What is PM SVANidhi Yojana and How you can get Loan through this Scheme?

Under the ambit of the ambitious AtmaNirbhar package, the central government had announced Prime Minister Street Vendor’s AtmaNibhar Nidhi (PM SVANidhi) scheme on July 02 which has got response from over 1.5 lakh vendors.

As per reports, more than 1,54,000 street vendors have applied for loan across the country since the commencement of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, out of which over 48,000 have already been sanctioned by the government.

Moreover, the Central Government has recently launched the mobile application of PM SVANidhi Scheme on July 17.

What is PM SVANidhi scheme?

The PM SVANidhi scheme was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020 which aims to provide affordable working capital loans to street vendors to continue their livelihoods that have been affected due to lockdown

How PM SVANidhi Mobile App help Farmers?

The PM SVANidhi Mobile App provides a user-friendly digital interface for Lending Institutions (LIs) & their field functionaries for sourcing as well as processing loan applications.

It aims to cover over 50 lakh street vendors who would be eligible to avail a working capital loan of up to ₹10,000. The street vendors will be allowed to repay the loan in monthly installments in one year. An interest subsidy of 7% per annum will be credited to the bank accounts if someone can pay earlier than the tenure.

How to Apply for PM SVANidhi Yojana Online?

First, visit the official website of PM SVANidhi Yojana.

Or Click the bellow link - https://www.pmsvanidhi.mohua.gov.in

Then you will get the option "Apply for Loan", click there.

After that, they will ask for your mobile number and you need to submit the OTP.

Then, you need to fill up all the details what is required in the form.