Quick Summary
The Ministry of Housing and Urban Affairs (MoHUA) has informed that, on 15.03.2021, 23.24 lakh loans have been sanctioned and 18.54 lakh loans have been disbursed to the beneficiaries under the Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme (PM SVANidhi). This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance Corporate Affairs, in a written reply to a question in Lok Sabha today. The Minister stated that MoHUA launched Pradhan Mantri Street Vendors,
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FAQ :
The Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme (PM SVANidhi) is a scheme launched by MoHUA to provide collateral-free working capital loans of up to Rs. 10,000 with a one-year tenure to street vendors.
The PM SVANidhi Scheme was launched on June 1, 2020.
As of March 15, 2021, 23.24 lakh loans have been sanctioned under the PM SVANidhi Scheme.
As of March 15, 2021, 18.54 lakh loans have been disbursed under the PM SVANidhi Scheme.
Vendors receive an interest subsidy of 7% per annum on regular repayment and a cashback reward of up to Rs. 100 per month for digital transactions. They are also eligible for enhanced working capital loans in the next cycle upon timely or early repayment.
The main objective is to facilitate collateral-free working capital loans to street vendors whose businesses were adversely affected by the lockdown.
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