22.7 lakh Loans Worth Rs 2,243 Crore Disbursed To Street Vendors Under PM SVANidhi Scheme: Govt

The government on Thursday (29 July) said that as many as 22.7 lakh loans worth over Rs 2,200 crore have been disbursed to street vendors under Pradhan Mantri Street Vendors’ Atma Nirbhar Nidhi (PM-SVANIDHI) scheme.

In a written reply to a question in the Lok Sabha, Union Minister of State in the Ministry of Housing and Urban Affairs (MoHUA) Kaushal Kishore informed that the ministry is implementing the PM SVANidhi scheme since 1 June 2020 to facilitate working capital loan of up to Rs 10,000 of 1-year tenure to street vendors, vending in urban areas, to resume their businesses which have been adversely impacted by the pandemic.

In addition, ‘SVANidhi se Samriddhi’ initiative has been designed to build safety net for the beneficiaries’ families by linking them to existing socio-economic welfare schemes of the Central government. It was launched in January 2021 for 125 select cities, he said.

On prepayment or repayment, they are eligible for an enhanced working capital loan of upto Rs 20,000 and Rs 50,000 in the second and third tranches respectively.

"As on 26 July, 43.1 lakh loan applications have been received, out of these 25.2 lakh loans have been sanctioned and 22.7 lakh loans amounting to Rs 2,243 crore have been disbursed," the minister said.

In addition, socio-economic profiling of 5.1 lakh beneficiaries along with their family members has been completed and 1.5 lakh scheme benefits have been extended, he added.

Street Vendors engaged in vending in urban areas as on or before 24 March 2020 are eligible for benefit under PM SVANidhi Scheme.