PM SVANidhi Scheme

PM SVANidhi Scheme Latest News

According to Ministry of Housing & Urban Affairs As many as 21.86 lakh loans to the tune of Rs 6,294 crore have been disbursed to street vendors under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme in the last 12 months. 

About PM SVANidhi Scheme

• The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched in June 2020.
• It is a Central Sector Scheme supporting street vendors through affordable working capital, financial inclusion and social protection measures.
• Implementation: It is a joint responsibility of the Ministry of Housing and Urban Affairs (MoHUA) and the Department of Financial Services (DFS).

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Key Features of PM SVANidhi Scheme

• Working Capital Loan: Collateral-free loans of ₹15,000, ₹25,000, and ₹50,000 are provided in three progressive tranches with interest subsidy and credit guarantee support.
• UPI-linked RuPay Credit Cards: Vendors successfully repaying the second tranche are eligible for UPI-linked RuPay Credit Cards with limits up to ₹30,000.
• Digital Adoption: Cashback incentives of up to ₹1,600 are provided to street vendors for retail/wholesale digital transactions to encourage digital adoption and financial literacy.
• SVANidhi se Samriddhi (SSS): Socio-economic profiling of beneficiaries and their families is undertaken to link them with eight selected Central welfare schemes and create a holistic social security net.  
• Capacity Building & Entrepreneurship Development: Vendors are provided with training in financial literacy, digital literacy, and food safety & hygiene in collaboration with FSSAI.

Source: PIB