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Current Affairs

MoHUA signs MoU with SIDBI—PM SAVNidhi Scheme

Current Context: Ministry of Housing and Urban Affairs (MoHUA) has signed an MoU with SIDBI (Small Industries Development Bank of India) for PM Street Vendor’s AtmaNirbhar Nidhi (PM SAVNidhi Scheme).
MoHUA signs MoU with SIDBI—PM SAVNidhi Scheme
  • The PM Street Vendor’s AtmaNirbhar Nidhi Scheme aims to provide Special Micro-Credit Facility for Street Vendors.
  • The scheme will be implemented by SIDBI under the guidance of Ministry of Housing and Urban Affairs along with the management of credit guarantee to the lending institutions through CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises).
  • SIDBI will be providing Project Management Unit (PMU) which will consist of experts from training and capacity building, banking, NBFC, MFI sectors which will ensure effective implementation of the project and its management.
  • SIDBI will also leverage the network of lending institutions for the implementation of the scheme. The lending institutions include Scheduled Commercial Banks, MBFCs, RRBs, SFBs etc.
  • Static Part: 
    • HQ of SIDBI: Lucknow
    • Chairman and MD of SIDBI: Mohammad Mustafa
    • Union Minister of Housing and Urban Affairs: Hardeep Singh Puri

Question: 

Q.1 Ministry of Housing and Urban Affairs has signed MoU with whom to build PM SAVNidhi Scheme?
a. Industrial Investment Bank of India
b. SEBI
c. SIDBI
d. NABARD
MoHUA signs MoU with SIDBI—PM SAVNidhi Scheme MoHUA signs MoU with SIDBI—PM SAVNidhi Scheme Reviewed by Neha Verma on June 20, 2020 Rating: 5

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