Main Bhi Digital 3.0

Main Bhi Digital 3.0

Part of: Prelims and GS-IIl – Economy

Context Main Bhi Digital 3.0″ campaign launched which is aimed at digital onboarding of Street Vendors who are provided loans under PM SVANidhi Scheme.

Key takeaways 

• Digital onboarding and training of Street Vendors (SVs) is an integral part of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme.
• Lending Institutions (LIs) have been instructed to issue a durable QR Code & UPI ID at the time of disbursement and train the beneficiaries in conduct of digital transactions.
• Jointly launched by: Ministry of Housing & Urban Affairs (MoHUA) and Ministry of Electronics & Information Technology (MeitY) 
• PM SVANidhi Scheme is available to all street vendors across the country.

What is the scheme all about?

• It is a micro-credit facility that provides street vendors a collateral-free loan of Rs 10,000 with low rates of interest for a period of one year.
• The scheme is a part of the AtmaNirbhar Bharat package.