The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Yojana is a government scheme in India aimed at providing financial assistance to street vendors who have been adversely affected by the COVID-19 pandemic. The primary objective of the scheme is to enable street vendors to resume their livelihoods by offering them affordable working capital loans.
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Key Features Of The PM SVANidhi Yojana:
Loan Amount: Street vendors are eligible to avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments.
- Interest Rate: The interest rate on the loan is subsidized, making it affordable for the vendors.
- Tenure: The loan has a short tenure, and it is typically meant to be repaid within a year.
- Digital Platform: The application process is often conducted through a digital platform to streamline and simplify the procedure.
- Collateral-free: The loans provided under this scheme are generally collateral-free, making it more accessible for small street vendors who may not have valuable assets for collateral.
It’s important to note that government schemes and their details can be subject to changes and updates. Therefore, for the most current and accurate information, I recommend checking with official government sources or contacting relevant authorities in India.
Also Read: PM SVANidhi Yojana Cashback: Cashback of Rs 1200 is Available Along With Subsidy On loan.
