PM Narendra Modi to disburse loans to 300,000 street vendors under SVANidhi scheme on Tuesday

PM SVANidhi Scheme (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Yojana) scheme was launched on June 1 this year to help poor street vendors, impacted by coronavirus pandemic, resume livelihood activities.

Prime Minister Narendra Modi would distribute loans to nearly 300,000 street vendors on Tuesday (October 27) under the PM SVANidhi Scheme (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Yojana) via video conferencing.

During the event PM will also interact with the beneficiaries, additional chief secretary, information, Navneet Sehgal said here on Saturday.

Under PM SVANidhi scheme, street vendors can get working capital of up to Rs 10,000 at subsidised rates. 

PM Street Vendor`s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on June 1 this year to help poor street vendors, impacted by coronavirus pandemic, resume livelihood activities.

The scheme is aimed at empowering individuals from marginalised sections and promoting the government`s agenda of building a self-reliant India.

More than 24 lakh applications have been received under the scheme, out of which more than 12 lakh have been sanctioned and about 5.35 lakh loans disbursed till now.