PM Svanidhi scheme News

PM SVANidhi scheme aims to provide collateral-free affordable loans to street vendors. The scheme had envisaged facilitating loans for an amount of Rs 5,000 crore. The extension of the scheme had envisaged facilitating loans for an amount of Rs. 5,000 crore.

The PM SVANidhi Scheme was launched under the ambit of ‘AtmaNirbhar Bharat Abhiyan’. Aims at facilitating collateral free working capital loans. Loans upto Rs 10,000 of 1 year tenure.

Swiggy has created special destination on the app. Consumers can discover their favourite street food vendors. All vendors are registered with FSSAI.

PM SVANidhi Scheme gives affordable loan to street vendors. Those adversely affected due to Covid-19 lockdown can be benefitted. This scheme targets to benefit over 50 lakh Street Vendors.

The MoU was exchanged by Joint Secretary Sanjay Kumar and Chief Financial Officer, Swiggy Rahul Bothra, through webinar in the presence of Secretary, Ministry of Housing & Urban Affairs (MoHUA) Durga Shanker Mishra, and officials of Swiggy and Ministry. Municipal Commissioners of Ahmedabad, Chennai, Delhi, Indore, and Varanasi also participated in the ceremony through video conferencing facility as MoHUA and Swiggy will begin by running a pilot program by on-boarding 250 vendors across these five cities. This scheme targets to benefit over 50 lakh street vendors who had been vending on or before 24 March 2020, in urban areas including those from surrounding peri-urban/ rural areas.

The Centre had launched PM Svanidhi scheme on June 1, 2020, to help poor street vendors, impacted by COVID-19 to resume their livelihood activities. Reportedly around 4.5 lakh street vendors were registered in Madhya Pradesh, of which, acceptance has been granted to over 1.4 lakh street vendors of amount worth Rs 140 crore. Speaking on the occasion, Prime Minister praised the efforts of the street vendors to bounce back and appreciated their self-confidence, perseverance and hard work. He appreciated the efforts of the Government of Madhya Pradesh, for identifying more than 4.5 lakh street vendors and completing the process to give loans to over a 1 lakh vendors within 2 months, notwithstanding the effect of the pandemic. The Prime Minister said any calamity first affects the poor impacting their jobs, food and savings. He referred to the tough times when most of the poor migrants had to return to the villages.