Q1. Consider the following statements regarding the PM SVANidhi scheme as it completed six years on 1 June 2026:\n1. The maximum third-tranche collateral-free loan a street vendor can receive under the scheme is Rupees 1 lakh.\n2. The scheme is open only to vendors in the six largest metropolitan cities of India.\n\nWhich of the statements given above is/are correct?
Explanation
Statement 1 is incorrect: The maximum third tranche under PM SVANidhi is Rupees 50,000, not Rupees 1 lakh. Loans are structured as Rupees 10,000, Rupees 20,000 and Rupees 50,000 on timely repayment. Statement 2 is incorrect: The scheme covers urban street vendors across all cities and towns of India, not just metropolitan cities, and over 75 lakh vendors have benefitted across the country.
