PM
SVANidhi SCHEME – GOVERNMENT SCHEME
News:
Shakuntala Kanojiya
beneficiary of PM SVANidhi from Nashik expresses gratitude to Central
Government
What's
in the news?
●
Shakuntala Kanojiya, a beneficiary of PM
SVANidhi from Nashik expressed gratitude to the Central Government and Prime
Minister Narendra Modi.
Key
takeaways:
●
Shakuntala Kanojiya said she was
unemployed during the Covid pandemic and later she got a loan of 10 thousand
rupees under the PM SVANidhi scheme.
●
She added that she started a fruit and
vegetable stall with the amount which helped to take care of her family in
times of need.
PM
SVANidhi:
●
The PM SVANidhi is a micro-credit scheme which was launched by the government in 2020 to
provide handholding support to street vendors to tide over pandemic-induced
economic stress.
●
PM SVANidhi stands for Prime Minister
Street Vendor’s AtmaNirbhar Nidhi.
Nodal
Ministry: Ministry
of Housing and Urban Affairs
Beneficiaries:
●
Street Vendors or hawkers in urban areas
●
Street Vendors of peri-urban areas and
rural areas (Those who were street vendors as on/before 24th March 2020).
Features:
●
It facilitates collateral-free loans of ₹10,000 with subsequent loans of ₹20,000
and ₹50,000 with 7% interest subsidy.
●
There is a provision of monthly cash-back incentive on digital
payments through monthly cashback in the range of Rs. 50-100.
●
It also incentivises regular repayment of loans.