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PM SVANidhi Scheme Latest Update: Government to Disburse Loans to 300,000 Street Vendors on 27 October

If you have applied for PM SVANidhi Scheme then there is a good news for you. PM Modi will distribute loans to as many as3,00,000 street vendors tomorrow.

Abha Toppo
Street vendors

Under the PM SVANidhi Scheme (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Yojana), Prime Minister Narendra Modi will virtually disburse loans to almost 300,000 street vendors tomorrow (27th October 2020). In addition, the PM would virtually interact with the beneficiaries, informed Additional Chief Secretary, information, Mr Navneet Sehgal on Saturday.

What is PM SVANidhi scheme and who will be benefited from it?

The central government launched PM SVANidhi yojana on 1 June 2020 to help the street vendors restart their livelihood activities that were badly impacted by the Covid-19 pandemic.

Under PM SVANidhi yojana, street vendors will get working capital of up to Rs 10,000 at subsidised rates. The scheme also at providing monetary benefits to street vendors or hawkers in urban, semi-urban & rural areas.

As per latest reports, Uttar Pradesh has received 557,000 applications from the vendors so far, which is the highest across the country.

Sehgal told the state government was working on ‘Mission Employment’ adding that “Special effort is on to fill up vacancies in the government & recruitment process is being expedited. Efforts are also on to create employment in the private sector & industry”. UP has ranked first in all the categories i.e. applications, sanctions & disbursements.

As per the official statistics of Uttar Pradesh, loans under this government scheme will be distributed to 2.51 beneficiaries by 27 October 2020 when the Prime Minister will address the street vendors of the state.

Talking about the other states, Madhya Pradesh is in the second slot with loan disbursements to more than 1.25 lakh beneficiaries which followed by;

  • Telangana (53,777)

  • Gujarat (18,747)

  • Andhra Pradesh (15,992)

  • Maharashtra (13,021)

  • Chhattisgarh (8,993)

  • Tamil Nadu (8,389)

  • Jharkhand (6,413)

  • Rajasthan (5,533)

How to register for a street vendor loan?

  • Visit the official government website pmsvanidhi.mohua.gov.in

  • Click on the link that reads apply for a loan

  • Then enter your mobile number & captcha

  • Select the category & fill in all required details

  • Finally click submit

For more details visit - www.pmsvanidhi.mohua.gov.in/

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