CURRENT AFFAIRS

Detailed explanation-1: -Detailed Solution. The correct answer is 10, 000. Karnataka Chief Minister HD Kumaraswamy announced the Badavara Bandhu scheme in 2018. The scheme will help street vendors, small-time traders and footpath hawkers to get easy capital to conduct busines.

Detailed explanation-2: -PM SVANidhi (PM Street Vendor’s AtmaNirbhar Nidhi) Scheme in Business Activity Loan. PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a Special Micro-Credit Facility launched by Ministry of Housing and Urban Affairs, for providing affordable loans to street vendors.

Detailed explanation-3: -The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the following objectives: (i) To facilitate working capital loan up to ‘10, 000; (ii) To incentivize regular repayment; and (iii) To reward digital transactions.

Detailed explanation-4: -Also Check Karnataka Raitha Siri Scheme 2022 Also in urban areas, the Karnataka government will pay 6.5 % interest on the home loans for up to 12 Lakh Rupees. While in rural areas, the government has going to pay 8% interest on the home loans of up to 6 Lakh Rupees.

Detailed explanation-5: -PM SVANidhi stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi. It is a central sector scheme launched in June 2020. It aims to provide micro-credit facilities to street vendors affected due to COVID-19 pandemic. It is one of the important government schemes for the UPSC 2023 preparation.