Utility News: Under this scheme, the central government is giving loans up to 50 thousand rupees without any collateral

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Under a scheme of the central government, street vendors and street vendors have a chance to get cheap loans without any collateral. This loan is being given by the Central Government under the Prime Minister Street Vendors Self-Reliant Fund (PM Swanidhi) scheme. The Narendra Modi government at the Center approved to continue this scheme from March 2022 to December 2024. 

According to the news, under this scheme, the government is giving loans up to Rs 50,000 to the people without guarantee. Along with subsidy, cashback is also being given to them on this loan. According to reports, this proposal has been approved in the meeting of the Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi. 

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Under this scheme of the Central Government, a loan of up to ten thousand rupees is given to the street vendors. Subsidy is also provided on the interest of this loan. Under the scheme, on repayment of the loan on time, a loan of up to twenty thousand rupees is given for the second time and fifty thousand rupees for the third time.