The Indian government helped street vendors who suffered during the lockdown in 2020. They started a scheme called PM SVANidhi Yojana to give these vendors loans to restart their businesses. This scheme aimed to help small businesses that were struggling. The main goal was to provide financial support to vendors so they could continue their work and help the economy recover. This scheme offered short-term loans to street vendors to help them get back on their feet and run their businesses again.
The government is offering loans to street vendors to help them get their businesses back on track. These loans are called PM SVANidhi loans. The first loan is for ₹10,000 and you don’t need to give anything as a guarantee. If you pay back the loan on time, you can get bigger loans later. The government is also paying part of the interest on these loans to make it easier for vendors to afford them. The government has extended the time for applying for these loans until December 2024. You can apply online through the PM SVANidhi website.
PM Street Vendor’s AtmaNirbhar Nidhi Yojana Overview
| Nodal Agency | Ministry of Housing and Urban Affairs, Govt of India |
| Scheme Name | Prime Minister Street Vendor’s AtmaNirbhar Nidhi |
| Loan Amount | Up to Rs 50000 |
| Subsidy Rate | Interest subsidy of 7% |
| Cashback Facility | Available on Digital Transactions |
| Official Website | pmsvanidhi.mohua.gov.in |
Prime Minister SVANidhi Scheme Benefits & Eligibility
Benefits
The plan provides financial help to street vendors to improve their economic situation. It offers short-term loans from Rs 10,000 to Rs 50,000 without asking for any guarantee. If vendors pay back their loans on time, they get a 7% discount on the interest rate. Also, vendors who use digital payments can get cash back every month. This encourages them to use digital money.
Eligibility Criteria
To qualify for this program, street vendors need to have one of these: a vending certificate, a card from local city officials, or a letter of recommendation from the Town Vending Committee. This means more people can apply, making sure that many street vendors have a chance to get financial help and benefits to improve their businesses and lives.
Documents Required for Pradhanmantri SVANidhi
To get the paperwork done, you need to give us your Survey Number and one proof that you’re a street vendor, like a Vendor ID, Vending Certificate, or a letter from the TVC. You also need a valid Aadhar card with a phone number linked to it. To verify your identity, you can show us an Aadhar Card, Voter ID, Driver’s License, MNREGA Card, or PAN Card.
How to Apply for SVANidhi Loan Scheme?
- To apply, visit the PM SVANidhi Portal online.
- Authenticate using your mobile number, which will be confirmed via an OTP.
- Once logged in, select your qualification criteria via (a) Vendor Identity Card, or (b) Certificate for Vending, or (c) Recommendation Letter from TVC
- Complete the PM SVANidhi Scheme application form and attach all necessary KYC documents.
- Finalize by submitting your application.
- Subsequently, the lending institutions will reach out to you.
- After verifying your documents, the loan amount will be deposited into the street vendor’s bank account within 30 days of application.
Direct link :-
- PM SVANidhi Scheme Online Apply
- PM SVANidhi Loan Application Status
- SVANidhi Scheme Mobile Number Change
- PM SVANidhi Vendor Survey List
- PM SVANidhi Yojana Portal
- SVANidhi Scheme Mobile App
