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Mahesh

10/12/22 14:22 PM IST

EXTENSION OF PM SVANIDHI SCHEME

In News
  • The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme has been extended beyond March, 2022.
PM SVANidhi
  • The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoodsthat have been adversely affected due to Covid-19 lockdown.
  • It is a special micro-credit facility plan to provide affordable loan of up to ₹10,000 to more than 50 lakh street vendors, who had their businesses operational on or before 24 March.
  • Small Industries Development Bank of India is the technical partner for implementation of this scheme.
  • It will manage the credit guarantee to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises.
Eligibility

  • The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.
  • Beneficiaries from Meghalaya, which has its own State Street Vendors Act may, however, participate.
  • The Scheme is available to all street vendors engaged in vending in urban areas.
Extended Provisions
  1. Extension of lending period till December 2024;
  2. Introduction of 3rd loan of upto ₹50,000 in addition to 1st & 2nd loans of ₹10,000 and ₹20,000 respectively.
  3. To extend ‘SVANidhi Se Samriddhi’ component for all beneficiaries of PM SVANidhi scheme across the country;
Source- PIB

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