The Ministry of Housing and Urban Affairs (MoHUA) has informed that, on 15.03.2021, 23.24 lakh loans have been sanctioned and 18.54 lakh loans have been disbursed to the beneficiaries under the Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme (PM SVANidhi).

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today.

The Minister stated that MoHUA launched Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme (PM SVANidhi) on June 1, 2020, with the objective to facilitate collateral free working capital loan up to ₹ 10,000 of one year tenure, to about 50 lakh street vendors across the country whose businesses had been adversely affected due to lockdown. The scheme also provides for incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan and cash-back reward upto ₹ 100 per month on undertaking prescribed digital transactions.

The Minister further stated that on timely or early repayment, the vendors are eligible for enhanced working capital loan during the next cycle. The scheme further provides for Socio-economic profiling of beneficiaries and their families to determine their eligibility for various central Government welfare Schemes and link them to these schemes. The Scheme also aims to facilitate beneficiary Street Food Vendors to on-board e-commerce platforms for food delivery.

State-wise data of loan sanctioned and disbursed is ANNEXED.

Collateral-free working capital loans enable street vendors access to credit with repayment-linked incentives under a national relief scheme. Pradhan Mantri Street Vendors Atma Nirbhar Nidhi Scheme provides collateral-free working capital loans with short tenure and conditions for access to enhanced credit tied to timely or early repayment. The scheme offers repayment-linked incentives, notably an interest subsidy and cashback on prescribed digital transactions, and requires socio-economic profiling to determine beneficiaries' eligibility for other welfare programmes and to enable onboarding to e-commerce platforms.