Policy

PM interacts with beneficiaries of SVANidhi scheme

Our Bureau New Delhi | Updated on October 27, 2020 Published on October 27, 2020

Launched in June, 2020, the PM SVANidhi scheme aims to financially assist poor street vendors impacted by Covid-19.   -  PTI

The SVANidhi scheme facilitates working capital loan up to ₹10,000 to street vendors.

Prime Minister Narendra Modi on Tuesday interacted with the beneficiaries of PM Street Vendor’s (PM SVANidhi) Scheme from Uttar Pradesh via video conferencing.

During the interaction, Preeti from Agra told PM Modi that she started her fruit business from ₹ 10,000 that she received from the government under the scheme.

Another beneficiary with whom PM interacted was Arvind Maurya from Varanasi, a street vendor who runs a momo stall. Maurya said that he received ₹10,000 without any hassle.

 

Maurya also told the PM that he ensures social distancing is maintained and payment is made to him through digital mode.

“Those who wear a mask, maintain social distancing and pay digitally, I give them one free momo,” said Maurya.

Launched on June 1, 2020 the aim of PM SVANidhi is to help poor street vendors, impacted by Covid-19, resume livelihood activities.

The SVANidhi scheme facilitates working capital loan up to ₹10,000 to street vendors. Under this scheme, regular repayment is given special incentives, and digital transactions get rewarded.

The scheme is available to all street vendors from urban areas who were selling products on or before March 24, 2020. The eligible vendors will be identified as per criteria including possession of a certificate of vending or Identity Card issued by Urban Local Bodies. Vendors who have left for their native places due to Covid 19 lockdown will be eligible for the loan on their return.

 

Till date, a total of more than 24 lakh applications have been received under the scheme, out of which more than 12 lakh have been sanctioned and about 5.35 lakh loans have been disbursed.

In Uttar Pradesh, more than 6 lakh applications have been filed, out of which about 3.27 lakh have been sanctioned and 1.87 lakh loans have been disbursed.

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Published on October 27, 2020
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