PM SVANidhi Yojana

About PM SVANidhi Yojana

What is PM SVANidhi yojana?

Launched by the Ministry of Housing and Urban Affairs on June 1, 2020, the PM Street Vendor’s AtmaNirbhar Nidhi or PM SVANidhi scheme was started to provide affordable working capital loans to street vendors to resume work post-Covid-19 lockdowns and empower their livelihoods. The scheme is available until March 24, 2022.

According to the ministry website, the scheme intends to give away collateral-free working capital loans of up to Rs 10,000 to around 5 million vendors to help resume their businesses.

It also added that almost 2 million applications have been received of which 752,191 already sanctioned and 218,751 loans disbursed.

INCENTIVES