PM Modi Sir Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) Scheme 2021

Hi Friends, 

You can see India Government Scheme. Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi is a special micro-credit facility scheme to providing affordable loans to street vendors. As livelihoods of these daily wage earners have been impacted seriously due to COVID-19 lockdown, govt. has started this scheme. The scheme will provide working capital loan to enable street vendors to resume their life.To provide short term loans of upto Rs. 10,000 to rehdi / patri valas (phereewala). This is a Central Sector Scheme to facilitate street vendors to access affordable working capital loan for resuming their livelihoods activities, after easing of lock-down.Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi 

Official Website: https://pmsvanidhi.mohua.gov.in/

They are known as vendors, hawkers, thelewala, rehriwala, theliphadwala etc. in different areas/ contexts. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, footwear, artisan products, books/ stationary etc. The services include barber shops, cobblers, pan shops, laundry services etc. The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors. Street vendors represent a very important constituent of the urban informal economy and play a significant role in ensuring availability of the goods and services at affordable rates at the door-step of the city dwellers. They usually work with a small capital base and might have consumed the same during the lockdown. Therefore, there is an urgent need to provide credit for working capital to street vendors to resume their business.The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the following objectives:

👉 To facilitate working capital loan up to `10,000;

👉 To incentivize regular repayment; and

👉 To reward digital transactions

⏩ Eligibility of States/UTs Atmanirbhar Nidhi (PM SVANidhi) Scheme

The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. Beneficiaries from Meghalaya, which has its own State Street Vendors Act may, however, participate.

⏩ Eligibility Criteria of Beneficiaries Atmanirbhar Nidhi (PM SVANidhi) Scheme 

• The Scheme is available to all street vendors engaged in vending in urban areas as on or before March 24, 2020. The eligible vendors will be identified as per following criteria:
• Street vendors in possession of Certificate of Vending / Identity Card issued by Urban
• The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card;
• Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month.
• Street Vendors, left out of the ULBled identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
• The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.
• Identification of Beneficiaries left out of the Survey or belonging to the surrounding Rural Areas While identifying the vendors belonging to category 4 (iii) and (iv), the ULB/ TVC may consider any of the following documents to issue letters of recommendation:
• The list of vendors, prepared by certain States/ UTs, for providing one-time assistance during the period of lockdown

Street Vendor Survey Search

Click hear 

 

⏩ Rate of Interest & Interest Subsidy Atmanirbhar Nidhi (PM SVANidhi) Scheme

The interest subsidy amount will be credited into the borrower’s account quarterly. Lenders will submit quarterly claims for interest subsidy for quarters ending as on June 30, September 30, December 31 and March 31 during each financial year.  In case of Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks SHG Banks, the rates will be as per their prevailing rates of interest. In case of NBFC, NBFC-MFIs etc., interest rates will be as per RBI guidelines for respective lender category. 

In respect of MFIs (non NBFC) other lender categories not covered under the RBI guidelines, interest rates under the scheme would be applicable as per the extant RBI guidelines for NBFC-MFIs. The vendors, availing loan under the scheme, are eligible to get an interest subsidy @@ 7%. Subsidy will only be considered in respect of accounts of borrowers, which are Standard (non-NPA as per extant RBI guidelines) on respective claim dates and only for those months during which the account has remained Standard in the concerned quarter. 

The interest subsidy is available up to March 31, 2022. The subsidy will be available on first and subsequent enhanced loans up to that date. In case of early payment, the admissible amount of subsidy will be credited in one go.

⏩ Planning to APPLY for Loan Atmanirbhar Nidhi (PM SVANidhi) Scheme 2021

👇 Steps before starting the online Application Process 👇

➤ Understand the loan application requirements

Properly understand the information & documents required to fill the Loan application form (LAF) for the Scheme. Keep all the information ready before you start the application process.

View/ Download form 👉 Click hear 👈

➤ Make sure your mobile number is linked to your Aadhaar

You are requested to make sure that your mobile phone is linked to your aadhaar number.This will be required for your e KYC/Aadhaar validation during online application process. It will also help you to get letter of Recommendation from ULB (in case required). It will also help you avail future benefits under Government welfare schemes. It is understood from UIDAI officials that for updating mobile numbers, only a form has to be filled and no additional document is required. A link to UIDAI portal where you can find details of the nearest Aadhaar centre is provided below.

➤ Check your eligibility status as per scheme Rules ion to be kept ready

You will fall in one of the following 4 categories of Street vendors. Check your status and the documents/ information which you need to keep ready

Helpline service is available in 8 languages.

For any query you may call toll free number 1800 11 1979 between 9.30 AM to 6.00 PM on 

Monday to Saturday except national holidays.