Current Affairs · Government Schemes

Consider the following statements regarding the Self Employment Programme (SEP) component of DAY-NULM: Statement 1: It provides interest subvention on loans to individuals and groups of urban poor for setting up micro-enterprises, with an additional 3 percent subvention for women beneficiaries for prompt repayment. Statement 2: The maximum project cost for an individual micro-enterprise is 2 lakh, while for a group enterprise, the project cost can be up to 10 lakh, with the condition that the group should have at least five members with at least 70 percent from the urban poor. Statement 3: Repayment of these loans is scheduled over a period of 5 to 7 years with an initial moratorium of 6 to 18 months, and banks are prohibited from seeking collateral security for loans up to 10 lakh under this component. Which of the following describes the validity of these statements?