The PM SVANidhi scheme was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020. It aims to provide affordable working capital loans to street vendors to resume their livelihoods that have been affected due to the coronavirus lockdown.
It targets over 50 lakh street vendors who would
The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the following objectives: (i) To facilitate working capital loan up to `10,000; (ii) To incentivize regular repayment; and (iii) To reward digital transactions
The scheme will help formalize the street vendors with above objectives and will open up new opportunities to this sector to move up the economic ladder.