PM SVANidhi Yojana
What Is PM-SVANidhi?
PM Street Vendor’s AtmaNirbhar Nidhi, or the PM SVANidhi Yojana, is a micro-credit facility for street vendors. This scheme provides affordable working capital loans of up to ₹50,000 in three trenches to street vendors.
The Ministry of Housing and Urban Affairs launched this scheme to support the livelihood of street vendors affected by the COVID-19 pandemic. The scheme was launched on 1st June 2020.
Objectives of the PM SVANidhi Scheme
Here are some key parameters of the scheme:
- To provide a working capital loan at an affordable interest rate
- To incentivise timely repayment of loan
- To reward digital transactions with cashback
| Loan Ticket Size | Tenure | Subsidy |
|---|---|---|
| 10,000 | 12 months | 7% |
| 20,000 | 18 months | 7% |
| 50,000 | 36 months | 7% |