PM SVANidhi Scheme

Submitted by shahrukh on Fri, 15/12/2023 - 14:54
CENTRAL GOVT CM
Scheme Open
PM SVANidhi Scheme Logo
Highlights
  • Short Term Working Capital Loan up to :-
    • Rs. 10,000/-.
    • Rs. 20,000/-.
    • Rs. 50,000/-.
  • No Collateral Required.
  • Interest Subsidy of @ 7% on Timely or Early Repayment.
  • Monthly Cashback of Rs. 50/- to Rs. 100/- on Digital Transactions.
Customer Care
  • PM SVANidhi Scheme Helpline Number :- 1800111979.
  • PMSVANidhi Scheme Grievnace Helpline Number :- 011 23062850.
  • PM SVANidhi Scheme Helpdesk Email :-
    • portal.pmsvanidhi@sidbi.in.
    • pmsvanidhi.support@sidbi.in.
Overview Of The Scheme
Name of the Scheme PM SVANidhi Scheme.
Launched in 2020.
Benefits
  • Short Term Loans up to :-
    • Rs. 10,000/-.
    • Rs. 20,000/-
    • Rs. 50,000/-.
  • Interest Subsidy @ 7% on Timely or Early Repayment.
  • No Collateral Required for Loan.
  • Monthly Cashbacks on Digital Transactions.
Beneficiaries Street Vendors.
Nodal Ministry Ministry of Housing and Urban Affairs.
Mode of Apply Online through PM SVANidhi Portal.

Introduction

  • PM SVANidhi Scheme is the Central Sector Scheme.
  • It was launched in the year 2020 by Ministry of Housing & Urban Affairs.
  • PM SVANidhi stands for Prime Minister Street Vendor's AtmaNirbhar Nidhi Scheme.
  • Lots of small businesses get affected or closed permanently due to covid lockdown.
  • So the main objective behind launching PM SVANidhi Scheme is to empower Street Vendors across the nation.
  • It is a special micro credit facility for the welfare of Street Vendors.
  • Under PM SVANidhi Scheme, Government of India will provide small term loans to the Street Vendors of the Country.
  • Loan will be provided as a working capital loan so that they can invest the amount in their businesses.
  • Initial loan of Rs. 10,000/- will be given to the street vendors for the period of 1 year.
  • If the street vendor returns the loan amount within one year, then his/her loan limit will be increased to Rs. 20,000 first and thereafter Rs. 50,000/.
  • Government will also provide interest subsidy of 7 percent on the given loans.
  • There is no collateral security is required to take loan under PM SVANidhi Scheme.
  • Now the Government of India extended the time period of PM SVANidhi Scheme till December 2024.
  • Eligible Street Vendors can apply for PM SVANidhi Loans through PMSVANidhi Scheme Portal.

Benefits of Scheme

  • Short Term Working Capital Loan up to :-
    • Rs. 10,000/-.
    • Rs. 20,000/-.
    • Rs. 50,000/-.
  • No Collateral Required.
  • Interest Subsidy of @ 7% on Timely or Early Repayment.
  • Monthly Cashback on Digital Transactions.

Eligibility Conditions

  • Applicant should be a Street Vendor.
  • Application should be a holder of any of the below mentioned card :-
    • Certificate of Vending.
    • Identity Card issued by Urban Local Bodies.
    • Letter of Recommendation from Town Vending Committee.

Documents Required

  • Survey Reference Number.
  • Any One of the Street Vending Proof :-
    • Vendor Identity Card.
    • Certificate of Vending.
    • Letter of Recommendation from TVC.
  • Aadhar Card.
  • Aadhar Linked Mobile Number.
  • Any one of the document for KYC :-
    • Aadhar Card.
    • Voter Identity Card.
    • Driving Licence.
    • MNREGA Card.
    • PAN Card.

How to Apply

  • Applicant has to visit PM SVANidhi Portal to apply Online.
  • Login by providing your mobile number.
  • Portal will verify the mobile number by sending OTP.
  • After Login, Choose one of the eligibility category :-
    • Vendor Identity Card.
    • Certificate of Vending.
    • Letter of Recommendation from TVC.
  • Fill the Application Form pf PM SVANidhi Scheme and Upload all the KYC Documents.
  • Submit the Application Form.
  • Now the lending financial institutions will contact the applicant.
  • After verification of documents, the loan amount will be credited to the bank account of Street Vendor.

Features of the Scheme

  • The vendor will be eligible for the second loan cycle only after the first loan is repaid.
  • Interest subsidy will be directly credited into the borrower account.
  • Monthly Cashback will be received by the vendor ranging from Rs. 50/- to Rs. 100/- as per following criteria :-
    Transactions
    (Per Month)
    Monthly Cashback
    50 Rs. 50/-
    100 Rs. 75/-
    200 Rs. 100/-
  • Loan will be approved within 30 days of application.
  • Vendor can avail the benefit of PM SVANidhi Scheme from the following lending institutions :-
    • Schedule Commercial Banks.
    • Regional Rural Banks.
    • Small Finance Banks.
    • Cooperative Banks.
    • Non Banking Financial Companies.
    • Micro Finance Institutions.
    • Self Help Group Banks.
  • Mobile Number linked with Aadhar Card and Aadhar Card is mandatory to apply.

Street Vendors Eligible Under PM SVANidhi Scheme

  • The below mentioned Street Vendors are eligible to get short term loan under Pradhanmantri SVANidhi Scheme :-
    • Hawkers.
    • Rehriwala.
    • Thelewala.
    • Services like Barber Shops.
    • Theli Phadwala.
    • Pan Shops.
    • Cobblers.
    • Laundry Services.
    • Vegetable Sellers.
    • Person Working in Temporary Built up Structure etc.

Important links

Contact Details

  • PM SVANidhi Scheme Helpline Number :- 1800111979.
  • PMSVANidhi Scheme Grievance Helpline Number :- 011 23062850.
  • PM SVANidhi Scheme Helpdesk Email :-
    • portal.pmsvanidhi@sidbi.in.
    • pmsvanidhi.support@sidbi.in.
  • Ministry of Housing and Urban Affairs, Government of India,
    Nirman Bhawan, Maulana Azad Road,
    New Delhi - 110011.

Comments

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Ka loan disbursed ho chuka hai mila nhi h Bank walo ne chakkar katva rakhe hai

In reply to by Deepakraj sood (not verified)

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Othar

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Extend my Indian

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I am a siva

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Hello sir please

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Sair mara bank portal ma change karna ha

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Me welding ka kaam karta ho

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