PM SAVNidhi Scheme 2020: Rs10,000 Credit for Street Vendors

Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi – PM SVANidhi Scheme 2020 – Rs.10000 Credit Scheme for Street Vendors

PM SVANidhi Scheme 2020 Online Application Form: As you, all know that because of Covid-19 there are lots of street vendors who are suffering from financial crises. So, to provide financial help for their business the Prime Minister launched a new scheme Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) Scheme. The scheme has launched on 1st June 2020. The street vendors (रेहड़ी पटरी वाले ठेले पे सामान बेचने वाले) can get a loan of Rs. 10,000 to restart their business without any financial problem. We will provide you the complete detail how you can apply, eligibility, interest rate, repayment, etc.

पीएम मोदी ने एक ट्वीट में लिखा, “देश में पहली बार सरकार ने रेहड़ी-पटरी वालों और ठेले पर सामान बेचने वालों के रोजगार के लिए लोन की व्यवस्था की है. ‘पीएम स्वनिधि’ योजना से 50 लाख से अधिक लोगों को लाभ मिलेगा.”

Features of PM SVANidhi Scheme 2020

  • Micro Credit Scheme for Loan up to Rs.10,000 to Street Vendors (रेहड़ी पटरी वाले ठेले पे सामान बेचने वाले)
  • The benefit to 50 Lakh Street Vendors
  • Working Capital Loan of Upto Rs. 10,000
  • Repayable in monthly installments in one year
  • To restart their livelihoods affected due to Covid-19
  • The interest rate will be 7% annually
  • Interest subsidy on timely/early repayment @7% p.a. paid 6-monthly
  • Monthly cashback incentive on digital transactions receipt/payment
  • Mobile App and Web Portal Based Application Process
  • No Collateral Security Required for Loan
  • The duration of the scheme until March 2020
  • The amount will credit to their bank account

PM Svanidhi scheme

Eligibility

  • Street vendors (रेहड़ी पटरी वाले ठेले पे सामान बेचने वाले)
  • It includes all urban/peri-urban & rural street vendors (इसमें सभी शहरी / पेरी-शहरी और ग्रामीण स्ट्रीट वेंडर शामिल हैं)
  • The street vendors were doing their business before 24th March 2020.(24 मार्च 2020 से पहले स्ट्रीट वेंडर अपना कारोबार कर रहे थे।)

How to Apply for PM SVANidhi Scheme 2020

The Government has announced that the web portal and mobile app will be released to apply for PM Loan Credit Scheme for street vendors. Till yet, there are no guidelines by the Government that how you can apply for PM SVANidhi scheme. But whenever there is an official statement or guidelines we will update here you the step-by-step procedure on mobile and website.

In the meantime, you can get ready for restarting your street business again. Don’t worry the Government is doing good effort to restart our business again.

As per the latest news, the Finance Ministry clearly said that the (Rs.10,000 Credit scheme) scheme will begin only after lockdown ends.

FAQ About SVANidhi Scheme 2020

What is Svanidhi Scheme?

The SVANidhi Scheme is to facilitate with Rs.50,000 loan credit to the street vendors.

How Much Loan Amount?

The loan amount is Rs.10,000 will be credited to street vendors.

Who will get the benefits under PM SVANidhi scheme?

Street Vendors (रेहड़ी पटरी वाले ठेले पे सामान बेचने वाले)

How to repay the loan?

You can make repayment @7% p.a. paid 6-monthly under PM SVANidhi scheme.

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