PM SVANidhi Scheme
Full Form
Prime Minister Street Vendor's AtmaNirbhar Nidhi
Ministry
Ministry of Housing and Urban Affairs
Launched
2020
Objective
To provide collateral-free working-capital loans to street vendors.
Loan Structure
The restructured scheme provides loans in three tranches:
| Tranche | Maximum Loan |
|---|---|
| 1st | ₹15,000 |
| 2nd | ₹25,000 |
| 3rd | ₹50,000 |
Loans are collateral-free.
Other Features
- Digital transactions encouraged.
- Interest subsidy.
- Successful repayment enables access to higher subsequent tranches.
- UPI-linked RuPay credit cards have been introduced for eligible vendors who successfully repay the second tranche.
Significance
Promotes:
- Financial inclusion
- Formal credit
- Digital payments
- Entrepreneurship
- Livelihood security
Prelims Pointer: PM SVANidhi → Urban street vendors → MoHUA → collateral-free working capital.
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