Government has said that more than 23 lakh loans have been sanctioned to the beneficiaries under the Pradhan Mantri Street Vendors, Atma Nirbhar Nidhi Scheme – PM SVANidhi. Minister of State for Finance Anurag Singh Thakur said this in a written reply to a question in Lok Sabha yesterday. He said, over 18 lakh loans have been disbursed to the beneficiaries.
The PM SVANidhi scheme was launched on 1st June last year, with the objective to facilitate collateral free working capital loan up to ten thousand rupees, to about 50 lakh street vendors across the country whose businesses had been adversely affected due to lockdown.
The scheme also provides for incentives in the form of interest subsidy at the rate of seven per cent per annum on regular repayment of loan and cash-back reward upto one hundred rupees per month on undertaking prescribed digital transactions.