About:
- Focus will be on enhanced collateral free affordable loan corpus, increased adoption of digital transactions and holistic socio-economic development of the Street Vendors and their families.
- Through the Scheme, affordable collateral-free loans are being facilitated to the Street Vendors.
- The Scheme had envisaged to facilitate loans for an amount of Rs. 5,000 crore. The recent approval has increased the loan amount to Rs. 8,100 crore, thereby providing the Street vendors working capital to further expand their business and making them AtmaNirbhar.
- The budget for promotion of digital payments including cashback to the vendors has also been enhanced. The approval is expected to benefit nearly 1.2 crore citizens of Urban India.
- The Scheme was launched in June 2020.
Under PM SVANidhi, significant achievements have already been made.
- As on April 25, 2022, 31.9 lakh loans have been sanctioned and 29.6 lakh loans amounting to Rs. 2,931 crore have been disbursed.
- The beneficiary Street Vendors have conducted more than 13.5 crore digital transactions and have been given a cashback of Rs.10 crore.
