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Business News | Dept of Financial Services' Secretary Reviews Progress of Social Security Schemes with Public Sector Banks

Get latest articles and stories on Business at LatestLY. Besides reviewing the progress under the social security schemes promoting financial inclusion, public sector banks were exhorted to achieve the targets allocated to them under the schemes for the 2022-23, according to a statement from the ministry of finance. Business News | Dept of Financial Services Secretary Reviews Progress of Social Security Schemes with Public Sector Banks. ....

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How to apply for the Prime Minister Street Vendors AtmaNirbhar Nidhi (PMSVANidhi) scheme, Eligibility rules


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. ....

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Street vendor scheme a hit, govt plans next phase: Digital payments


Launched by Prime Minister Narendra Modi for street vendors as they were among the hardest hit by the lockdown, the PMSVANidhi scheme of the Ministry of Housing and Urban Affairs entitles them to Rs 10,000 interest-free loan as working capital to restart their businesses. Government data show that around 46 per cent of the street vendors who have applied for the loan so far are fruit and vegetable sellers, while some 21 per cent sell fast food. Over 41 per cent are women.
Encouraged by the response to PMSVANidhi, the government has also launched its first-ever official socio-economic survey of vendors, to bring them under schemes such as the Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Jan-Dhan Yojana, Building and Other Construction Workers Act, Pradhan Mantri Shram Yogi Maandhan Yojana, Pradhan Mantri Matri Vandana Yojana, and others. ....

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