Updated Dec 28, 2020 | 18:47 IST
Street vendors engaged in vending in the urban, pre-urban & rural areas on or before 24 March 2020 are eligible. There are monthly cash-back incentives on digital payments. Prime Minister Street Vendor s AtmaNirbhar Nidhi PMSVANidhi scheme
Key Highlights
PM SVANidhi or Pradhan Mantri Street Vendor s Atmanirbhar Nidhi scheme was launched on June 1, 2020, by the ministry of housing and urban affairs to help street vendors, who were impacted by the coronavirus pandemic, resume their livelihood activities.
The scheme aims to provide working capital loans up to Rs 10,000 at a subsidized rate of interest.
The interest subsidy on timely or early repayment of the loan is at 7 per cent and street vendors will be allowed to repay the loan in monthly instalments in one year.
Microcredit or Direct Benefit Transfer? Designing a Scheme for Street Vendors
In June 2020, Pradhan Mantri Street Vendor s AtmaNirbhar Nidhi (PM SVANidhi) was launched to help street vendors tide over pandemic-induced financial stress, but there are inherent challenges in the initiative.
Representative image of a Delhi street vendor. Photos: Jnzl s Photos/Flickr (CC BY 2.0)
Rights21/Dec/2020
In June 2020, the Ministry of Housing and Urban Affairs (MoHUA) unveiled the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme to support street vendors in regaining their livelihoods.
The idea behind the initiative has been to provide easily repayable loans of up to Rs. 10,000, with the government hoping that it would benefit over 50 lakh street vendors in India.
The expansion comes on the heels of a successful pilot launched by the delivery service in collaboration with the Ministry of Housing & Urban Affairs in the cities of Ahmedabad, Varanasi, Chennai, Delhi and Indore, where 300 street vendors were onboarded | Latest News India