PM SVANidhi Yojana - Aims and Objectives, State Wise Details

PM SVANidhi Yojana – Aims and Objectives, State Wise Details, Submitted By Govt. in Rajyasabha

In the reply of questions related to Pradhan Mantri SVANidhi Yojana raised in Rajyasabha, the Minister of State in the Ministry of Housing & Urban Affairs stated that Ministry of Housing and Urban Affairs (MoHUA) is implementing Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) since June 01, 2020 to facilitate collateral free working capital loan to street vendors to restart their businesses, which were adversely impacted during the Covid-19 pandemic. The Scheme has the following objectives:

Facilitate collateral free working capital loan up to ₹10,000 of 1-year tenor; enhanced loan of ₹20,000 and ₹50,000 in the second and third tranches respectively, on repayment of earlier loans.
Incentivize regular repayment, through interest subsidy @ 7% per annum; and
Reward digital transactions, by way of cash back up to ₹1,200 per year.

As per the reply submitted in Loksabha as on 15.03.2022, loans amounting to ₹3,119 crore have been released to the beneficiaries by the Lending Institutions. The State and Bank-wise details are at Annexure-I respectively. As on 15.03.2022, 44.8 lakh eligible loan applications have been received, out of which 33.4 lakh loan applications have been sanctioned and 30.1 lakh loans have been disbursed. These include 1st as well as 2nd tranche loans. As on 15.03.2022, 28.8 lakh Street vendors have been benefitted under the scheme.