PM Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi)

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Street Vendor

PM Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi)

Working capital support for eligible street vendors to resume and strengthen vending activity.

Overview

Street vendors represent a very important constituent of the urban informal economy and play a significant role in ensuring availability of the goods and services at affordable rates at the door-step of the city dwellers. The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors. Therefore, there is a need to provide credit for working capital to street vendors to resume their business.

Objective

To facilitate working capital loan up to Rs.10,000.

To incentivize regular repayment.

To reward digital transactions.

Eligibility Criteria

Category A - Street vendors in possession of Certificate of Vending (CoV) / Identity Card issued by Urban Local Bodies (ULBs).

Category B - Street vendors who have been identified in the survey but have not been issued Certificate of Vending / Identity Card.

Category C - Street vendors left out of the ULB led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC).

Category D - Street vendors of surrounding development/ semi-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.

Quantum of Loan

1st Tranche - Rs.10,000/-

2nd Tranche - Rs.20,000/-

3rd tranche Upto Rs.50,000/-

Repayment

Urban street vendors will be eligible to avail a Working Capital (WC) loan of up to Rs. 10,000 with tenure of 1 year and repaid in monthly instalments.

Interest Subsidy

The vendors are eligible to get an interest subsidy @ 7%.

The interest subsidy amount will be credited into the borrower's account quarterly, but account should be Standard.

The subsidy will be available on first and subsequent enhanced loans up to that date.

Financial Institutions

All Public Sector Banks, Regional Rural Banks, Co-operative Banks, Private Sector Scheduled Commercial Banks regulated by RBI.

Small Industries Development Bank of India (SIDBI), NBFCs and MFIs.

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