New Delhi: The PM Street Vendor’s AtmaNirbhar Nidhi, commonly known as PM SVANidhi, is a scheme launched by the central government to support street vendors across the country. The scheme aims to provide working capital to street vendors, facilitating their financial empowerment and fostering self-reliance.
Benefits:
- Street vendors can avail of collateral-free loans of up to Rs 10,000.
- The loan amount can be repaid in monthly installments over a period of one year.
- Subsidized interest rates of 7% per year are offered for regular repayments.
- Vendors can also get cashback of up to Rs 1200 per year on specified digital transactions.
Required documents:
- Aadhaar-linked mobile number.
- Vending certificate or identification document issued by city and local bodies.
Loan availability:
Loans are accessible through various financial institutions, including commercial banks, regional rural banks, small finance banks, and cooperative banks.
How to apply:
Interested vendors can apply for the PM SVANidhi scheme directly through the dedicated portal or through Common Service Centres (CSCs).
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