Pradhan Mantri SVANidhi Scheme

Pradhan Mantri SVANidhi Scheme 2021

Pradhan Mantri SVANidhi Scheme 2021: In India, a lot of street vendors are living themselves without depending on anyone. Among various jobs, street businesses in India are increasing rapidly and joining hands to pick up the economic growth as well. So, for the wealth of street vendors, the government of India has brought a scheme for them i.e. Pradhan Mantri SVANidhi Scheme. This was launched in June 2020. However, this scheme will benefit all the street vendors out there at the toughest time of the Covid-19 pandemic. 

Pradhan Mantri SVANidhi Scheme Apply Online 2021

What is Pradhan Mantri SVANidhi Scheme?

Pradhan Mantri SVANidhi Scheme 2021: In these pandemic days self employers, street vendors lost their hopes towards life. For such people, Pradhan Mantri SVANidhi Scheme can help them to lift their business on track. Pradhan Mantri SVANidhi Scheme provides a micro-credit facility that means the government can provide a small amount of loan (up to 10,000) with very low-interest rates. This is also a part of the Atma Nirbhar Bharath Package. Till now, this scheme received 31,64,367 applications across the country. Among them, 12,17,507 applications have been paid out and the remaining 16,77,027 applications have been sanctioned. 

Purpose of Launching Pradhan Mantri SVANidhi Scheme:

Covid-19 pandemic hit the lives of self employers and street vendors hardly. For them, the government has launched this scheme to help them in getting back to them to stand on their own feet. Also, the government is creating a digital record of their economic status so that they can avail themselves of the future central government schemes in time. Pradhan Mantri SVANidhi Scheme aims for the safety and security of the economical status of street vendors.

Who is Eligible for Pradhan Mantri SVANidhi Scheme?

• Small-scale vendors and street vendors who are running their business before March 24, 2020, are eligible for this scheme. They must need to have a registered certificate of vending.
• According to the street vendors act of 2014, the vending committee needs to provide a vending certificate to street vendors after a proper survey. 
• Most of the street vendors in many cities does not have street vending certificate. For those, city municipalities can provide a recommendation letter if the vendor wants to take a loan under Pradhan Mantri SVANidhi Scheme.

Pradhan Mantri SVANidhi Scheme Apply Online 2021 Documentation required:

• Letter of Recommendation by municipality or Vendor Certificate
• Photo of the street vendor at the spot
• Identification Proof.

After submitting all the documents on the special portal made for the Pradhan Mantri SVANidhi Scheme, loans will be sanctioned and paid by banks within 10-15 days.  

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Also Check: PRADHAN MANTRI JAN-DHAN YOJANA APPLY ONLINE 2021 / PRADHAN MANTRI JAN-DHAN YOJANA 2021