Ministry of Housing and Urban Affairs is implementing Pradhan Mantri Street Vendors’ Atma Nirbhar Nidhi Scheme (PM SVANidhi) since June 01, 2020 to facilitate working capital loan of upto Rs.10,000 of one year tenure to Street Vendors, vending in urban areas, to resume their businesses, adversely impacted by the pandemic.
On prepayment or repayment, they are eligible for an enhanced working capital loan of upto Rs. 20,000 and Rs. 50,000 in the second and third tranches respectively. In addition, ‘SVANidhi se Samriddhi’ initiative, designed to build safety net for the beneficiaries’ families by linking them to existing socio-economic welfare schemes of Government of India. It was launched in January 2021 for 125 select cities.
As on July 26, 2021, 43.1 lakh loan applications have been received, out of these 25.2 lakh loans have been sanctioned and 22.7 lakh loans amounting to Rs. 2,243 crore have been disbursed. In addition, Socio-economic profiling of 5.1 lakh beneficiaries along with their family members has been completed and 1.5 lakh scheme benefits have been extended.