Ministry of Housing & Urban Affairs has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) for PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi). PM SVANidhi is a Special Micro-Credit Facility for Street Vendors.
According to the MoU, PM SVANidhi Scheme will be implemented by SIDBI under the guidance of MoHUA. The credit guarantee to the lending institutions would also be managed by the SIDBI through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Click Here To Get Test Series For SBI PO 2020
Small Industries Development Bank of India (SIDBI) will ensure effective implementation of the scheme by providing a Project Management Unit (PMU) consisting of domain experts in training/ capacity building, project and platform management, banking, NBFC and MFI sectors etc for the period of scheme, i.e. upto March 2022. SIDBI will also leverage the network of lending Institutions for the Scheme implementation. The lending institutions will include Scheduled Commercials Banks (SCBs), Non-Bank Finance Companies (NBFCs), Regional Rural Banks (RRBs), Co-operative Banks, Small Finance Banks (SFBs), etc.
Important takeaways for all competitive exams:
Respectable Supreme Court of India has taken the step towards the modernization of judicial services…
Respectable West Bengal Chief Minister Suvendu Adhikari has announced the Annapurna Bhandaar scheme across the…
To boost the manufacturing India is planning to launch the Made in India Brand Scheme…
Respectable President of India Shri. Droupadi Murmu has presented the National Florence Nightingale Awards 2026…
The Government of India ha announced the nationwide rollout of the Viksit Bharat - Guarantee…
India has taken major step towards the healthier future with the launch of Sehat Mission…