{"id":262753,"date":"2023-10-04T19:20:15","date_gmt":"2023-10-04T13:50:15","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=262753"},"modified":"2023-10-04T20:37:47","modified_gmt":"2023-10-04T15:07:47","slug":"50-lakh-street-vendors-covered-under-pm-svanidhi-scheme","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/50-lakh-street-vendors-covered-under-pm-svanidhi-scheme\/","title":{"rendered":"50 lakh Street Vendors covered under PM SVANidhi Scheme"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article \u201c<\/span><b>50 lakh Street Vendors covered under PM SVANidhi Scheme<\/b><b>\u201d<\/b><span style=\"font-weight: 400;\"> published in<\/span><b> \u201cPIB\u201d on 4th October 2023<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Prime Minister Street Vendor&#8217;s AtmaNirbhar Nidhi (PM SVANidhi) scheme has achieved a significant milestone by extending its support to more than 50 lakh street vendors across the nation.<\/span><\/p>\n<h2><b>What is PM SVANidhi Scheme?<\/b><\/h2>\n<p><b>Launched in: <\/b><span style=\"font-weight: 400;\">2020<\/span><\/p>\n<p><b>Nodal Ministry: <\/b><span style=\"font-weight: 400;\">Ministry of Housing and Urban Affairs (MoHUA)<\/span><\/p>\n<p><b>Type: <\/b><span style=\"font-weight: 400;\">Central Sector Scheme<\/span><\/p>\n<p><b>Purpose: <\/b><span style=\"font-weight: 400;\">It is a micro credit scheme for urban street vendors that aims to provide collateral-free working capital loans up to \u20b950,000.\u00a0<\/span><\/p>\n<p><b>Key Features of the scheme:\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 The schemes <\/span><span style=\"font-weight: 400;\">facilitate collateral free working capital loan upto \u20b910,000 of 1 year tenure, with enhanced loan of \u20b920,000 and \u20b950,000 in the second and third tranches respectively on repayments of earlier loans.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 Incentivizes regular repayment, through interest subsidy @ 7% per annum; and<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 Reward digital transactions, by way of cashback upto \u20b91,200 per year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 The scheme employs Aadhaar-based e-KYC, utilizes an end-to-end IT platform, and employs SMS-based notifications for application status updates.<\/span><\/p>\n<p><b>Banks eligible to give loans:<\/b><span style=\"font-weight: 400;\"> Scheduled Commercial Banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks, Non-Banking Financial Companies, Micro-Finance Institutions and SHG Banks.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201c50 lakh Street Vendors covered under PM SVANidhi Scheme\u201d published in \u201cPIB\u201d on 4th October 2023 What is the News? The Prime Minister Street Vendor&#8217;s AtmaNirbhar Nidhi (PM SVANidhi) scheme has achieved a significant milestone by extending its support to more than 50 lakh street vendors across&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/50-lakh-street-vendors-covered-under-pm-svanidhi-scheme\/\">Continue reading <span class=\"screen-reader-text\">50 lakh Street Vendors covered under PM SVANidhi Scheme<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,956,9],"tags":[11872,3590],"class_list":["post-262753","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-schemes-and-programs","category-public","tag-9pm-daily-factly","tag-pib","entry"],"jetpack_featured_media_url":"","views":{"total":2,"cached_at":"","cached_date":1698409611},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/262753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=262753"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/262753\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=262753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=262753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=262753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}