23.24 lakh loans have been sanctioned disbursed under PM SVANidhi Scheme

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The Ministry of Housing and Urban Affairs (MoHUA) has informed that, on 15.03.2021, 23.24 lakh loans have been sanctioned and 18.54 lakh loans have been disbursed to the beneficiaries under the Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme (PM SVANidhi).

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today.

The Minister stated that MoHUA launched Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme (PM SVANidhi) on June 1, 2020, with the objective to facilitate collateral free working capital loan up to Rs. 10,000 of one year tenure, to about 50 lakh street vendors across the country whose businesses had been adversely affected due to lockdown. The scheme also provides for incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan and cash-back reward upto Rs. 100 per month on undertaking prescribed digital transactions.

The Minister further stated that on timely or early repayment, the vendors are eligible for enhanced working capital loan during the next cycle. The scheme further provides for Socio-economic profiling of beneficiaries and their families to determine their eligibility for various central Government welfare Schemes and link them to these schemes. The Scheme also aims to facilitate beneficiary Street Food Vendors to on-board e-commerce platforms for food delivery.