14,34,000 loans sanctioned under PM SVANidhi scheme

The Centre has said that over 27 lakh 33 thousand applications have been received under Pradhan Mantri Street Vendor’s Atma-Nirbhar Nidhi- PM- SVANidhi Scheme. Out of the total applications received, over 14 lakh and 34 thousand have been sanctioned and about 7.88 lakh loans disbursed.
Ministry of Housing and Urban Affairs in a statement said that vendors who had left for their native places due to Covid-19 lockdown are eligible for the loan. It said, the provision of loans has become hassle-free as one can upload the application online on their own at any common service centre or Municipal office or by going to a bank. Banks are reaching the doorsteps of people to provide loans for helping them start their ventures. The Ministry said that Prime Minister Narendra Modi has appreciated the hard-work done by the bank staff, saying that there was a time when street vendors did not go inside the bank but today the bank is going to their home.
In order to ensure fast implementation of the scheme with transparency, accountability and consistency, a digital platform with web portal and mobile app has been developed to administer the scheme with end-to-end solution. It said, Urban Local Bodies are playing pivotal role in the implementation of the scheme.


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