The Central Government is in charge of several government programs. The Modi government’s PM Swanidhi program for street vendors has received plaudits in an SBI research paper. Praise for the program: it has been reported that 75% of its beneficiaries come from non-general categories, of which 44% are OBC.
The research states that women make up 43% of the total beneficiaries of the microcredit plan “PM Swanidhi,” with Scheduled Castes and Scheduled Tribes receiving 22% of the total loans disbursed under the scheme.
Disclosed in the SBI report
Researchers from SBI say that it’s a good thing that over 75% of the program’s recipients come from non-general categories in their report. This SBI Research research was released in the midst of a national political discussion that has placed the Other Backward Classes (OBC) at its core. The ruling BJP accuses the opposition of playing politics in this issue. While the opposition demands that the OBCs be given a part of the population due to their size.
Report sharing on social media
Prime Minister Narendra Modi said, “This comprehensive research by Soumya Kanti Ghosh of State Bank of India (SBI) presents a very clear picture of the transformative impact of the PM Swanidhi scheme,” when posting this report on the social media platform “X.” Ghosh serves as SBI Group’s chief economic advisor.
He claimed that this report demonstrates how this initiative has encouraged financial empowerment and represents its inclusive nature. The primary findings of the investigation have also been posted by the prime minister on his website.
PM Swanidhi – 70 lakh rupees worth of loans have been disbursed
As per the estimate, around 70 lakh loans with a total value exceeding Rs 9,100 crore have been disbursed in three payments under the plan thus far. This has benefited almost 53 lakh street sellers. According to the research report, PM Swanidhi Yojana has broken down barriers. Within the community by skillfully establishing connections with marginalized urban small businessmen.
PM Swanidhi Scheme – What proportion of recipients are paying back the loan?
This indicates that 68% of borrowers have taken out a second loan for Rs 20,000. And have repaid the previous loan for Rs 10,000. Simultaneously, 75% of borrowers are repaying their second loan of Rs 20,000. And taking out a third loan of Rs 50,000.
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