PM SVANidhi

The PM SVANidhi scheme, or the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi scheme, is a micro-credit program that provides loans to street vendors. The scheme was launched by the Indian government to help street vendors affected by the COVID-19 pandemic.

Benefits of the scheme
Loans: Collateral-free working capital loans of up to ₹10,000 for one year
Interest subsidy: 7% interest subsidy per annum on timely loan repayments
Cashback: Monthly cashback incentive of up to ₹100 on digital transactions
Higher loan eligibility: On timely repayment of the first loan, higher loan eligibility of ₹20,000 and ₹50,000 in the second and third tranches respectively

Eligibility
Street vendors who have been operating their business for at least one year prior to March 24, 2020
Street vendors who have a valid ID proof
Monitoring
The scheme has committees at the Central, State/UT, and ULB levels to ensure effective implementation and monitoring
Objective
The scheme aims to help street vendors resume their livelihoods and become self-reliant

Beneficiary:

micro-credit program that provides loans to street vendors

Benefits:

provides loans