PM SVANidhi Scheme / Special Micro-credit loan scheme

Street vendors and hawkers will get loan upto Rs.20,000 to restart their street business which is affected by corona virus

Ministry of Housing and Urban Affairs, Government of India has restarted scheme PM SVANidhi Scheme (पीएम स्वनिधि योजना) / Special Micro-credit loan scheme. This scheme for Street vendors across the country, they will get finical support in term of loan of Rs.10,000. Beneficiaries can restart their business which was affected during lock-down (corona virus) with the help of this scheme. Ministry of Housing and Urban Affairs will be implementing this scheme with urban local bodies such as street vendor’s associations, business correspondents (BCs), agents of banks, micro-finance Institutions (MFIs), self-help groups (SHGs) and their federations, digital payment aggregators-BHIM App. This scheme is developed along with digital platform such as web portal and mobile application and will be integrated with Udyami Mitra portal of SIDBI for effective implementation.

Scheme:PM SVANidhi Scheme / पीएम स्वनिधि योजना
Beneficiaries:Street vendors who is effected economically from corona virus
Benefits:Loan of Rs.10,000
Repayable loan:Monthly
Interest Rate:7% per year
Duration of the scheme:March 2022
Tenure of installment:One year
Lunched By:Central Government of India
Lunched Date:May 2020

Benefits:

  • Loan of Rs.10,000 to restart the business
  • If beneficiaries repay the installment of loan on time or before time, they will be eligible to get higher loan of Rs.20,000

Eligibility:

  • Scheme is available for Street vendors/businesses
  • Scheme is applicable across India

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