On the occasion of second anniversary of the Prime Minister Street Vendor’s AtmaNirbharNidhi (PM SVANidhi) scheme, the Housing and Urban Affairs Minister, Hardeep Singh Puri launched the ‘SVANIdhiMahotsav’. Identify Incorrect statement regarding the scheme-
(i) Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbharNidhi (PM SVANidhi)
(ii) The vendors, availing loan under the scheme, are eligible to get an interest subsidy @5%.
(iii) The scheme is a Central Sector Scheme

The correct option is Only (ii).

Let us analyze each statement step-by-step to identify the incorrect statement regarding the PM SVANidhi scheme:

Statement (i): Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbharNidhi (PM SVANidhi).
This statement is correct. The PM SVANidhi scheme was launched by the Ministry of Housing and Urban Affairs (MoHUA) on June 1, 2020. The objective of the scheme is to provide affordable working capital loans to street vendors to help them resume their livelihoods, which were severely affected by the COVID-19 lockdown.

Statement (ii): The vendors, availing loan under the scheme, are eligible to get an interest subsidy @5%.
This statement is incorrect. Under the PM SVANidhi scheme, vendors who avail of the working capital loan are eligible to receive an interest subsidy at the rate of 7% per annum (not 5%). This interest subsidy is credited directly to the beneficiary's bank account on a quarterly basis.

Statement (iii): The scheme is a Central Sector Scheme.
This statement is correct. PM SVANidhi is a Central Sector Scheme, meaning it is fully funded by the Central Government of India and implemented through various lending institutions.

Therefore, only statement (ii) is incorrect, making Only (ii) the correct choice.