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PM SVANidhi scheme: The lives of street vendors were severely affected due to the lockdown. The lockdown lasted for over two months. If the shops remained closed, the food and drink crisis started in front of them. When the unlock started, gradually the street vendors were also allowed to start work. Recently, the government started a special self-funding scheme for these people.

At the meeting of the Union Cabinet on 1 June 2020, it was decided to introduce the self-funding scheme. Under this scheme, the central government will provide loans up to Rs 10,000 to the street vendors and small street vendors (small street vendors) to start their own work afresh. This self-funding scheme is also known as Pradhan Mantri Street Vendors’ Atma Dependent Nidhi. The benefit of this scheme will be made available to all small street vendors in the country.

What is the PM SVANidhi scheme?

Under the PM SVANidhi scheme, street vendors who sell fruits, vegetables, or small shops on hawkers can take a loan of Rs 10,000. They will have to repay it in installments within a year. Street vendors who repay this loan on time will also get a discount in interest. Those repaying on time will also get an interest subsidy of 7% per annum.

1.5 lakh applications so far

Under the Street Vendor Self-Reliant Fund (SVANidhi), more than 50 lakh people, including vendors, hawkers, handlers, street vendors, thi phalwale, etc., will benefit from the scheme in various fields. According to the latest information, more than 1.5 lakh street vendors and hawkers have applied for loans under this scheme. Out of this, about 50 thousand have been approved.

Motive for self-reliance

There is no provision of fine under SVANidhi Yojana. Under this, the technology will be used to increase the capacity of the people and to make them self-sufficient India campaign successful by reviving the business during the Corona crisis.

How to apply?

People have to apply online on the official website of the PM Street Self-Reliance Fund Scheme. Apart from this, offline applications can also be made in banks. With this, these people will speed up the self-reliant India campaign by raising their business afresh in the time of the Corona crisis. On Friday, the Ministry of Housing and Urban Affairs has also launched this app. The website has been launched only on 29 June.

Who will get the loan?

Under this scheme, barber shops, shoe bunches (cobblers), paan shops (panwadi), laundry shops (washermen), vegetable sellers, fruit sellers, ready-to-eat street food, tea cart or Loans to kiosks, bread, pakodas and egg sellers, hawkers who sell clothes, books / stationery makers, artisan products can get loans.