fbpx

Pradhan Mantri Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) scheme portal launched

  • IASbaba
  • June 30, 2020
  • 0
UPSC Articles
Print Friendly, PDF & Email

Pradhan Mantri Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) scheme portal launched

Part of: GS Prelims and Mains II – Welfare Schemes; Govt schemes and initiatives

In news:

  • Union Housing and Urban Affairs Ministry launched the portal for a loan scheme for street vendors.
  • Name of the loan scheme for street vendors – Pradhan Mantri Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) scheme.
  • The portal — pmsvanidhi.mohua.gov.in — provides an “integrated end-to-end IT interface to users for availing benefits under the scheme.

About PM SVANidhi scheme

  • Ministry of Housing and Urban Affairs launched the scheme on June 1st.
  • The vendors can avail a working capital loan of up to Rs. 10,000.
  • It will be repayable in monthly instalments in the tenure of one year.
  • On timely/early repayment of the loan, an interest subsidy at 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on six monthly basis. 
  • There will be no penalty on early repayment of loan.
  • Over 50 lakh people, including vendors, hawkers, thelewalas, etc. are likely to benefit from this scheme.
  • Street vendors from peri- urban/ rural areas have become beneficiaries of an urban livelihood programme for the first time.
  • MFIs/ NBFCs/ SHG Banks have been allowed in a scheme for the urban poor due to their ground level presence for the first time.

For a dedicated peer group, Motivation & Quick updates, Join our official telegram channel – https://t.me/IASbabaOfficialAccount

Search now.....