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Micro Credit Facility for Street Vendors

Published on November 20, 2021
Current Context: The HDFC Bank has launched a Micro-Credit Facility for Street Vendors.
Micro Credit Facility for Street Vendors
  • It was launched under PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), with common service centers (CSC).
  • The bank will facilitate PM SVANidhi for its village-level entrepreneurs (VLEs) on the digital sewa portal.
  • On this portal, vendors will complete the process in an online manner.
  • In the Micro Credit Facility, a collateral-free loan of Rs 10,000 will be granted to the street vendors.
  • The loan will be having an interest subsidy of 7%.
  • Static Part: 
    • HQ of HDFC Bank: Mumbai
    • Tagline of HDFC Bank: We understand your world
    • MD and CEO of HDFC Bank: Shashidhar Jagdishan

Question: 

Q.1 Which bank launched Micro Credit Facility for Street Vendors under PM SVANidhi), with common service centers (CSC)?
a. IndusInd Bank
b. HDFC Bank
c. Federal Bank
d. State Bank of India

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