{"id":35881,"date":"2023-06-12T04:18:38","date_gmt":"2023-06-11T22:48:38","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=35881"},"modified":"2025-04-21T13:04:29","modified_gmt":"2025-04-21T07:34:29","slug":"pm-svanidhi-in-south-more-women-availed-loan-scheme-for-street-vendors","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/pm-svanidhi-in-south-more-women-availed-loan-scheme-for-street-vendors\/","title":{"rendered":"PM SVANidhi: In south more women availed loan scheme for street vendors"},"content":{"rendered":"<h3><strong>What\u2019s in today\u2019s article?<\/strong><\/h3>\n<ul>\n<li><strong>Why in News?<\/strong><\/li>\n<li><strong>What is the PM SVANidhi Scheme?<\/strong><\/li>\n<li><strong>Need for the Scheme<\/strong><\/li>\n<li><strong>Who is Eligible for the Loan?<\/strong><\/li>\n<li><strong>Performance of the Scheme on 3-year Completion<\/strong><\/li>\n<li><strong>Various Challenges in Implementing the Scheme<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Why in News?<\/strong><\/h2>\n<ul>\n<li>About 41% of the beneficiaries of the government\u2019s loan scheme for street vendors &#8211; <strong>PM SVANidhi (PM Street Vendors\u2019 AtmaNirbhar Nidhi)<\/strong> &#8211; are women, but southern states fare much better than those in the north.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>What is the PM SVANidhi Scheme?<\/strong><\/h2>\n<ul>\n<li>It was launched in <strong>2020 amid the pandemic <\/strong>by the <strong>Ministry of Housing and Urban Affairs <\/strong>(MoHUA), Government of India.<\/li>\n<li>It is <strong>a micro-credit facility that provides street vendors a collateral-free loan of Rs 10,000<\/strong> with low rates of interest (below 12%) for a period of one year, <strong>aiding the vendors at getting back on their feet financially.<\/strong><\/li>\n<li>In the long term, it aims at &#8211;\n<ul>\n<li><strong>Establishing a credit score for the vendors<\/strong><\/li>\n<li>Creating a digital record of their socio-economic status<\/li>\n<\/ul>\n<\/li>\n<li>This will enable street vendors to<strong> avail the Central government schemes later, formalise the informal sector of the economy <\/strong>and provide them safety nets and a means of availing loans in the future.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Need for the Scheme:<\/strong><\/h2>\n<ul>\n<li>Many vendors belong to the informal economy, and <strong>often borrow from private lenders which charge them exorbitant rates of interest<\/strong>.<\/li>\n<li>The COVID-19 pandemic and the <strong>nationwide lockdown left daily wage workers and street vendors out of work<\/strong>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Who is Eligible for the Loan?<\/strong><\/h2>\n<ul>\n<li>All vendors who have been vending from or before (March 24, 2020) and with<strong> a certificate of vending can avail the loan.<\/strong><\/li>\n<li>As per <strong>the Street Vendors Act 2014<\/strong>, the <i>Town Vending Committees<\/i> (which comprises the local authorities and vendors from an area) issue a certificate of vending after a survey has been conducted of all the vendors.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Performance of the Scheme on 3-year Completion:<\/strong><\/h2>\n<ul>\n<li><strong>In 10 states and UTs<\/strong>, almost all in the Southern and North-East region,<strong> women are the majority of the beneficiaries.<\/strong>\n<ul>\n<li><strong>Kerala is an exception<\/strong>, but this state has been a pioneer in fostering women\u2019s empowerment through its own programmes like the <strong>Kudumbashree<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>The social fabric of the regions<\/strong> has a part to play in women outnumbering men in the number of beneficiaries.\n<ul>\n<li><strong>For example<\/strong>, in the matrilineal societies of <strong>Meghalaya <\/strong>where the youngest daughter inherits property and women operate most enterprises.<\/li>\n<\/ul>\n<\/li>\n<li>In some states,<strong> the local authorities targeted women\u2019s self-help groups (SHGs) as beneficiaries<\/strong>.\n<ul>\n<li><strong>For example<\/strong>, Andhra Pradesh\u2019s MEPMA [Mission for Elimination of Poverty in Municipal Areas] was already working with SHGs.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Various Challenges in Implementing the Scheme:<\/strong><\/h2>\n<ul>\n<li><strong>Uneven implementation of the Street Vendors Act across the states<\/strong>: The Act necessitates a survey of the vendors to issue a certificate of vending. However, many states and cities have not conducted the survey yet.<\/li>\n<li><strong>Some municipalities are also slow in issuing LORs: <\/strong>In the absence of the survey, the urban local bodies (ULBs) can provide a Letter of Recommendation (LOR), if the vendor is a member of a vendor association.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q1) What is Kudumbashree?<\/strong><\/h3>\n<p>Kudumbashree is the poverty eradication and women empowerment programme implemented by the State Poverty Eradication Mission (SPEM) of the Government of Kerala. The name Kudumbashree in Malayalam language means \u2018prosperity of the family\u2019.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Q2) What are Self Help Groups (SHGs)?<\/strong><\/h3>\n<p>SHGs are small groups of poor people. The members of an SHG face similar problems. They help each other to solve their problems. SHGs promote small savings among their members. The savings are kept with the bank. The SHG gives small loans to its members from its common fund.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/indianexpress.com\/article\/india\/in-south-more-women-availed-loan-scheme-for-street-vendors-8657707\/\" target=\"_blank\" rel=\"nofollow noopener\"><strong><u>In south more women availed loan scheme for street vendors<\/u><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PM SVANidhi is a micro-credit facility that provides street vendors a collateral-free loan of Rs 10,000 with low rates of interest for a period of one year<\/p>\n","protected":false},"author":5,"featured_media":35882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-35881","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/35881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=35881"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/35881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/35882"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=35881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=35881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=35881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}