Modi govt introduces 3rd loan of upto Rs 50,000 in THIS SCHEME, avail loan benefits till December 2024

New Delhi: The Indian government has extended the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond March, 2022. A ministry release said that 42 lakh street vendors are to be provided benefits under PM SVANidhi Scheme by December, 2024.

Government has announced following provisions under PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme:

-- Extension of lending period till December 2024;

-- Introduction of 3rd loan of upto Rs 50,000 in addition to 1st & 2nd loans of Rs 10,000 and Rs 20,000 respectively.

-- To extend ‘SVANidhi Se Samriddhi’ component for all beneficiaries of PM SVANidhi scheme across the country;

An official release showed that as on November 30, 2022, 31.73 lakh Street Vendors have availed benefit of 1st loan of Rs  10,000 loan ; Out of these 5.81 lakh have availed benefit of second loan of Rs  20,000 loan; Out of those who availed 2nd loan, 6,926 street vendors have availed benefit of third loan of Rs 50,000.

The subject matter relating to creation of vending zone falls under the ambit of Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014, which is being implemented through respective State/UT.  As reported by the States/UTs, a total of 13,403 vending zones have been identified so far.

This information was given by the Minister of State for Housing and Urban Affairs, Shri Kaushal Kishore in a written reply to a question in Lok Sabha on December 8.

The street vendors mostly operate their businesses on very thin margins. The micro-credit support under the scheme is expected to provide not only major relief to such vendors but also help them climb the economic ladder. Use of an integrated IT Platform (pmsvanidhi.mohua.org.in), Web Portal and Mobile App, has enabled the Scheme to extend its reach and benefits to this segment of society with the objective of minimum government and maximum governance.