PM SVANidhi full form – Prime Minister Street Vendor’s AtmaNirbharNidhi. The Ministry of Housing and Urban Affairs (MoHUA) has started the PM SVANidhi which is a Special Micro-Credit Facility Scheme to help street vendors who have been hurt by the Covid-19 lockdown get affordable loans so they can get back to work.
Prime Minister Street Vendor’s AtmaNirbharNidhi
- Eligibility – Street Vendors known as vendors, hawkers, thelewala, rehriwala, theliphadwala etc. in different areas/ contexts. The Scheme will be available to all street vendors engaged in vending in Urban areas as on or before 24th March 2020.
- Loan Amount -Urban street vendors will be eligible to avail Working Capital (WC) loan of up to Rs 10,000.
- Loan Period(Maximum)-The tenure of the loan shall be 1 year. Loan shall be paid in 12 Equated Monthly Instalments(EMI).
- Documents Required– e-KYC is mandatory for all direct loan applicants.
- Interest – The vendors,availing loan under the scheme are eligible to get an interest subsidy @ 7%.The interest subsidy amount will be credited into the borrower’s account quarterly.
For more please click the Prime Minister Street Vendor’s AtmaNirbharNidhi
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