In the Central Cabinet meeting on 1st June 2020, Narendra Modi has decided to start the Pm Svanidhi Yojana. Under this scheme, a loan of up to Rs 10000 will be provided by the central government to the street vendors (small street vendors) of the country to start their own work afresh. This Pm Svanidhi Yojana is also known as Prime Minister Street Vendors Atma Nirbhar Nidhi. The benefit of this scheme will be made available to all the small street vendors of the country.
What is Pm Svanidhi
Street vendors on rural and urban roads in the country who sell fruits, vegetables or set up small shops on street vendors can get a loan of Rs 10000 by the government under this SVANidhi Yojana. People will have to return in installments within one year. Street vendors who repay this loan on time will be transferred by the government to their accounts as an annual interest subsidy of seven percent.
Interested beneficiaries of the country who want to take advantage of this scheme, then they will have to apply under this scheme. Under the Street Vendor Self-Reliant Fund, more than 50 lakh people, including vendors, hawkers, hawkers, street vendors, cart fruit vendors, etc., will be provided benefits from this scheme.
How to apply for Pm svanidhi yojna
Under this scheme, financial assistance of ₹ 10000 will be provided to each beneficiary by the government. To get this financial assistance, street vendors have to apply online by visiting the official website. So far, 27.33 lakh applications have been received under the Svanidhi scheme. 14.34 applications have been approved under this scheme. A loan of Rs 7.88 lakh has been disbursed so far under the Svanidhi scheme. The application form can also be obtained from the bank to apply under this scheme.
The objective of Pm Svanidhi Yojna
As you all know that the coronavirus epidemic is going on in the whole country, to save the people from this infection, the Prime Minister has locked down the whole country till June 30, that is why the street vendors of the country, And those who sell goods on handcart are not able to work to earn their living. Due to which they are facing a lot of difficulties, in view of this problem, the central government has announced to start this scheme.
Providing loans by the government to street vendors to resume their work under the Street Vendor Self-Reliant Fund. Through this scheme, to make the street vendors self-reliant and empowered and to improve the condition of the poor people.
Benefits of Pm svanidhi yojna
- The benefit of this scheme will be provided to the street vendors on the side of the road.
- Under the Svanidhi scheme, vendors selling goods on the road around urban/rural areas have been made beneficiaries.
- Street vendors in the country can directly avail of working capital loans up to Rs.10,000. Which they can repay in monthly installments in a year.
- More than 50 lakh people will be benefited from this scheme.
- Street vendors who repay this loan on time will be transferred by the government to their accounts as an annual interest subsidy of seven percent.
- There is no provision of penalty under SVANidhi Yojana.
- Under this scheme, you will get full money in the account three times i.e. every three months you will get one installment. You will get this loan at 7% interest.
Who is the eligible beneficiary of Svanidhi Yojana
- Barber shops
- Shoe knots (cobblers)
- Paan Shops (Panwari)
- Laundry Shops
- Vegetable seller
- Fruit seller
- Ready-to-eat street food
- Tea stall
- Bread, dumplings, and eggs seller
- Hawkers who sell clothes
- Book/stationery installer
- Artisan products
Documents required for Street Vendor Atmanirbhar Nidhi Scheme
- The applicant must be an Indian resident.
- Under this scheme, only small street vendors of the country will be considered eligible.
- Applicant’s aadhar card
- Voter ID Card
- Bank account passbook
- Mobile number
- Passport size photo
How to apply for Pm Svanidhi Yojna
- Firstly the applicant has to visit the official website of the scheme. After visiting the official website, the home page will open in front of you on the computer screen.
- On this home page, you will see the option of Planning to Apply for a Loan. After which the section of Planning to Apply for Loan has to go ahead by reading all the 3 steps carefully and click on the button of View More.
- After that, the next page will open in front of you. On this page, you have to click on the option of View / Download Form. After which the PDF of the form of Svanidhi Yojana will open in front of you.
- You can download the PDF of this scheme. After downloading the application form, you have to fill in all the information asked in this form. After filling in all the information, you have to attach all your necessary documents with the application.
- After this, your application form will have to be submitted by visiting the institutes mentioned below. The list of institutes is shown below.
Lending Institutions List
- You need to click on the official website of PM Svanidhi.
- After seeing this list, you can go wherever you want and submit your application form.