research report by SBI has praised the Modi government's micro-credit PM Swanidhi scheme for street vendors for ensuring inclusive entrepreneurship. It said that about 75 per cent of its beneficiaries come from the non-general category, of which 44 per ce
Goverment Scheme
Prime Minister Narendra Modi said, “This in-depth research by Soumya Kanti Ghosh of State Bank of India provides a very clear picture of the transformative impact of PM Swanidhi. Mr Modi said, it notes the inclusive nature of the scheme and highlights how it has promoted financial empowerment. Soumya Kanti Ghosh is Group Chief Economic Advisor of SBI. The research report states that PM Swanidhi Yojana has seamlessly connected marginalized urban micro entrepreneurs by breaking community barriers. It said, the persistence ratio (first and second loan repaid) is increasing, which indicates the need and popularity of the scheme, and also provides incentive to those who are paying back the loan.
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