PM SVANidhi Yojana 2024: There are many people in the country who run the business of street vendors. Such people sell goods by putting their carts on the streets and make their living. Due to the epidemic of Kovid-19, many people had to leave this employment. In view of these problems, the government has started this scheme. Through PM Svanidhi Yojana, the historical vendors will be given a loan of up to Rs 50000 by the government to restart their employment. Along with the loan, the government will also provide subsidy so that the street vendors can earn good money by doing their employment.
To make street vendors self-reliant, the government will provide guarantee-free loans at low interest rates. The loan taken under this scheme can be repaid by the beneficiaries once. More than 50 lakh small traders of the country will benefit from the Samman Swanidhi Yojana started by the Prime Minister. If you are also a street vendor, then this scheme is very important for you. In this article, we will tell you complete information about this scheme. How can you apply for this scheme and what are the eligibility criteria for this scheme.
PM SVANidhi Yojana 2024
| Name of the scheme | PM SVANidhi Yojana |
| started | by the central government |
| Beneficiary | Lower and middle class merchants |
| Objective | Encouraging small traders |
| How much loan will you get | Rs.10,000 to Rs.50,000 |
| Application Process | Online / Offline |
| official website | pmsvanidhi.mohua.gov.in |
PM Svanidhi Yojana was launched by the Ministry of Housing and Urban Affairs in 2020. Through this scheme, the government will provide loans to street vendors as capital to start a business. Under the scheme, first a loan of Rs 10,000 will be provided to street vendors to start their own business, after that a loan of Rs 20,000 will be provided in the second installment and in the third installment the loan will be increased to Rs 50,000. A subsidy of 7% on the loan given under this scheme will also be encouraged by the government.
So far more than 1.5 lakh beneficiaries have benefited from PM Svanidhi Yojana. Many street vendors have been included under PM Svanidhi Yojana such as thelawala, hawker, rehriwala, fruit and vegetable seller etc. Loans will be made available to all these types of small traders without any guarantee. So that they can restart their business. Beneficiaries are given a loan of up to 50 thousand rupees with interest subsidy under the Pradhan Mantri Svanidhi Yojana. On repaying the loan taken under this scheme before time, the applicant is given an interest subsidy of up to 7% and he does not have to pay any penalty.
PM SVANidhi Yojana Aim
Under PM Svanidhi Yojana, the government wants to make all the street vendors of the country self-reliant. There are many people in our country who start their own business because they do not get employment. But due to the Covid-19 pandemic, many people had to close their business. Due to which it has become very difficult for all of them to live. The government has started this scheme to re-employ all those people.
Through PM Svanidhi Yojana, all street vendors will be encouraged to start employment by giving them loans. All the street vendors will be able to restart their business by taking a loan under this scheme. The government also wants to promote digitalization under the scheme. An additional subsidy of 7% will be given by the government on timely repayment of the loan taken under this scheme.
PM SVANidhi Yojana Benefits
There are many features of PM Svanidhi Yojana, some important of which we have told you below.
- Through this scheme, the government will provide loans to street vendors without any guarantee to start their business.
- If the loan is deposited on time by the beneficiary then he will be given an additional subsidy of 7%.
- Under this scheme, if the loan of the first installment is deposited on time, then a loan of Rs 20000 will be made available to the beneficiaries under the second installment.
- There will be no penalty on the loan taken under this scheme.
- Under the scheme, loans will be made available to all small street vendors in the country.
- The first installment loan taken under the scheme can be repaid by the beneficiary within 12 months.
- The second installment loan can be repaid in 18 months.
- Also, if a businessman has taken a loan for the third installment, then it can be repaid up to 36 months.
- Digital transactions will be promoted under this scheme.
PM SVANidhi Yojana Eligibility
PM Swanidhi Yojana is available for all street vendors of the country. If you want to take advantage under this scheme, then you must have the following eligibility.
- The benefit of the scheme will be available only to Indian citizens who earn their livelihood by setting up street stalls.
- Street vendors must have an identity card or certificate of vending issued by urban local bodies (ULBs).
- Street vendors were identified in the survey but vending certificates or identity cards were not found. In such cases, provisional vending certificates will be generated for the street vendors.
- Street vendors who were left out of the ULB-led identification survey or who have started vending after completion of the survey are sent a Letter of Recommendation (LOAR) by either the ULB or the Town Vending Committee (TVC).
- Street vendors who are vending in nearby developments or in rural or sub-urban areas, are within the geographical limits of the LB and have been issued a Letter of Recommendation (LOAR) by the LB or TVC.
PM SVANidhi Yojana Important Documents
If you are also a street vendor and want to avail the benefits under this scheme, then you must have the following documents.
- Aadhar card,
- PAN card,
- Bank passbook,
- Identity card issued by Urban Local Bodies (ULB),
- Income proof,
- Address proof,
- Passport size photo etc.
PM SVANidhi Yojana Apply Process
If you are also a street vendor and you set up your shop on the footpath, then this scheme can prove to be helpful for you. You can get benefits by applying in this scheme. To avail the benefits of the scheme, you can follow our below method.
- To apply in this scheme, first of all you have to visit the official website of PM Swanidhi Nidhi Yojana.
- After that, complete information about this scheme will be available on the home page.
- There you will get three options to apply for loan.
- You have to select the loan as per your requirement and click on it.
- After clicking on the apply loan option, a new page will open in front of you.
- Where you will be asked for your mobile number.
- After entering the mobile number, you have to enter your captcha code below.
- Then you have to click on Request OTP.
- After that, after entering the OTP, you have to click on the login button.
- After this an application form will open.
- Which you have to fill carefully.
- After filling the application form properly, you have to upload all the required documents.
- Finally you have to click on the submit button below.
- After that he has to take a printout of the form.
- After taking the print out, attach all the required documents and submit them at your nearest bank.
- After approval by the bank, you will be given the loan.
- In this way you can apply for this scheme.
PM SVANidhi Yojana Application Status
- To check the application status, you will first have to visit its official website.
- After this you have to click on check status.
- Then you will be asked for your application number and mobile number.
- After this you have to click on Request OTP.
- Then you have to enter the OTP.
- After entering the OTP, you have to click on the search button below.
- After this your status will open in front of you.
Conclusion
Friends, in this article we have given you complete information about PM Swanidhi Yojana. Under this scheme, street vendors can start their own business by taking a loan. There are many such sidewalk vendors who are unable to do their business due to lack of capital. Under this scheme, the government will now encourage them to start their business again by giving loans. So that they can earn well.
If you are also a street vendor then you can apply for this scheme. If you liked this article then definitely share it with your friends and fa