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



       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).



       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.