8-Dec-2022: Extension of PM SVANidhi scheme

The Government of India has extended the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond March, 2022 with the following provisions:

1. Extension of lending period till December 2024;
2. Introduction of 3rd loan of upto ₹50,000 in addition to 1st & 2nd loans of ₹10,000 and ₹20,000 respectively.
3. To extend ‘SVANidhi Se Samriddhi’ component for all beneficiaries of PM SVANidhi scheme across the country;

As on November 30, 2022, 31.73 lakh Street Vendors have availed benefit of 1st loan of ₹ 10,000 loan ; Out of these 5.81 lakh have availed benefit of second loan of ₹ 20,000 loan; Out of those who availed 2nd loan, 6,926 street vendors have availed benefit of third loan of ₹50,000.

The subject matter relating to creation of vending zone falls under the ambit of Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014, which is being implemented through respective State/UT.  As reported by the States/UTs, a total of 13,403 vending zones have been identified so far.

42 lakh street vendors are to be provided benefits under PM SVANidhi Scheme by December, 2024.

21-Jul-2022:  ‘SVANidhi se Samriddhi’ initiative under PM SVANidhi to build safety net for the beneficiaries’ families

Ministry of Housing and Urban Affairs (MoHUA) has launched PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme on June 01, 2020 to facilitate collateral free working capital loan upto ₹10,000 of 1 year tenure to street vendors to restart their businesses, which were adversely impacted during the Covid-19 pandemic.

The scheme provides incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan and cash-back upto ₹100 per month on undertaking prescribed digital transactions. Further, on timely or early repayment, the vendors are eligible for enhanced working capital loan of ₹20,000 and ₹50,000 respectively during the next cycle.

Later on, ‘SVANidhi se Samriddhi’ initiative, designed to build safety net for the beneficiaries’ families by linking them to existing 8 socio-economic welfare schemes of the Government of India was added to the Scheme. It was launched in 125 Urban Local Bodies (ULBs) in the first phase on 4th January, 2021 and extended for 126 ULBs on 12th April, 2022.

The Scheme also facilitates on-boarding of beneficiary Street Food Vendors to e-commerce platforms to serve their customers online.

33.37 lakh loans amounting to ₹3,621 crores have been disbursed across the country till July 12, 2022. A statement showing

An amount of ₹54.42 crores and ₹12.94 crores has been paid as interest subsidy & cash back respectively till July 12, 2022.

As on July 12, 2022, socio-economic profiling of 28.68 lakh beneficiaries and their family members has been completed and 25.80 lakh scheme sanctions have been facilitated.

9,198 Street Vendors have been on-boarded on the e-commerce platforms till July 12, 2022.

7-Jul-2022: Shri Hardeep S. Puri launches ‘SVANidhi Mahotsav’ - a cultural festival for celebrating the success of PM SVANidhi Scheme

The Minister for Housing and Urban Affairs, Shri Hardeep Singh Puri has said that Street Vendors have been an essential part of India’s economic growth story with linkages with the formal economy and play a significant role in reducing cost of living, by providing goods and services at affordable rates. He was addressing the Media Persons after launching SVANidhi Mahotsav – a cultural festival for celebrating the success of PM SVANidhi Scheme and SVANidhi Mahotsav website, here today. The Secretary, MoHUA, Shri Manoj Joshi, the Additional Secretary, MoHUA, Shri Sanjay Kumar and other dignitaries were present on the occasion.

Shri Puri said that MoHUA is organising ‘SVANidhi Mahotsav’ – a cultural festival for celebrating the success of PM SVANidhi Scheme and the beneficiary street vendors & their families, from 09 July to 31 July, 2022 in 75 cities across 33 States/UTs of the country. He further said that SVANidhi Mahotsav is a festival for celebrating and recognizing beneficiary street vendor’s growth story and their contribution towards Indian economy. The festival aims to celebrate 75 years of India’s independence with these nano-entrepreneurs, honoring their journey under PM SVANidhi scheme for demonstrating credit discipline, digital behavior and displaying their astute business acumen, he added.

Shri Puri said that the PM SVANidhi scheme was launched on June 1, 2020 to facilitate working capital loans to the street vendors to help them restart their businesses which were adversely impacted due to the lockdowns imposed during COVID-19 pandemic. He further said that this scheme is the first comprehensive effort for financial inclusion of the street vendors. Prior to this Scheme, street vendors were dependent on the informal credit channels paying high rates of interest, he added.

Saying that 53.7 lakh eligible applications have been received so far under the scheme, the Minister said that out of these, 36.6 lakh loans have been sanctioned and 33.2 lakh loans have been disbursed. The amount disbursed so far is ₹3,592 Cr and about 12 lakh street vendors have repaid their first loan.

Shri Puri said that the event will engage the street vendors & families in the esteemed presence of dignitaries and other stakeholders. He welcomed the street vendors of the nation to be a part of SVANidhi Mahotsav.

Website Link: https://t.co/1nhOAt7y6z

The Mahotsav will showcase a series of activities like:

1. Cultural activities,
2. Digital transaction training,
3. Loan mela,
4. Felicitation ceremony for distinguished street vendors,
5. Experience Sharing
6. Nukkad Nataks to propagate the features and benefits of the Scheme

Features and Measures taken for the Success of the Scheme:

1. The scheme facilitates collateral free working capital loan upto ₹10,000, of 1 year tenure, with enhanced loan of ₹20,000 and ₹50,000 in the second and third term respectively, on repayment of earlier loans, to enable business expansion.
2. The Scheme incentivizes adoption of digital transactions by way of cashback of upto ₹ 100 per month which in turn would build their credit profile facilitating future loans from the Lending Institutions
3. The Scheme incentivises the repayment by way of 7% interest subsidy
4. The structuring of the product was done in such a way that if a Street Vendors repays the loan EMIs promptly and conducts the required number of digital transactions, the interest subsidy and the cashback availed would make the loan interest free.
5. The Novel concept of ‘Letter of Recommendation’ (LoR) was introduced to recognise new street vendors by encouraging demand based registration.
6. The importance of LoR can be gauged from the fact that more than 30 lakh new vendors have been recognised through this instrument, thereby doubling the number of recognised street vendors to around 60 lakhs.
7. Due to the constant persuasion of this Ministry, 25 States have either exempted the stamp duty on PM SVANidhi loans or charging a nominal amount of up to ₹ 100.
8. An end-to-end IT solution has been developed for implementation of the Scheme including Svanidhi Se Samridhi, integrating the data-base of Aadhar, Udyamimitra, SIDBI, NPCI, PAiSA portal etc. thus promoting the Digital India initiative for the most vulnerable sections of the economy.
9. All the above measures taken by the Ministry have made PM SVANidhi the fastest growing micro credit scheme since independence.
10. Digital on-boarding of beneficiaries is an integral part of PM SVANidhi Scheme, which helps build credit profile of the street vendors. Such vendors are acting as Digital Messengers in more than 4,500 urban locations.
11. To further give an impetus to the Digital onboarding and training, Main Bhi Digital (MBD) campaign was launched in January – February 2021. MBD 2.0 was again implemented from July 1- August 15, 2021. MDB 3.0 was implemented in coordination with MeiTY and 3rd Party private digital payment aggregators (PayTM, Phone Pe, Bharat Pe, MSwipe and Aceware participated) select 223 cities from September 9 – November 30, 2021.
12. Till date, 12.8 lakh are digitally active and have recorded 19 crore digital transactions. These beneficiaries have claimed ₹12 crore as cashback.
13. Through SVANidhi Se Samriddhi scheme, we encourage them to adopt and to build a safety net for the vendors' families for their holistic development.
14. Through SVANidhi Se Samriddhi, PM SVANidhi beneficiaries & their family members are provided single window access to 8 Central Government welfare schemes. Till date more than 25 lakh sanctions have been made under these schemes facilitating socio-economic upliftment of more than 11 Lakh beneficiaries and family members.
15. Till date more than 25 lakh sanctions have been made under these schemes facilitating socio-economic upliftment of more than 11 Lakh beneficiaries and family members.

27-Apr-2022: Cabinet approves continuation of Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) beyond March 2022 till December 2024

The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi, today has approved the continuation of lending under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) beyond March 2022 till December 2024, with focus 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. Today’s 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.

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. As regards 2nd loan, 2.3 lakh loans have been sanctioned and 1.9 lakh loans amounting to Rs.385 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. An amount of Rs.51 crore has been paid as Interest Subsidy.

The proposed extension of the Scheme has been necessitated as the circumstances that led to the launch of the Scheme in June 2020 i.e. the pandemic and related stress on the small businesses, have not fully retracted. The extension of lending till December 2024, would assist in institutionalizing the access to formal credit channels, provide an assured source of credit to help them plan their business expansion, increasing the adoption of digital transactions, reducing the impact of potential NPAs on the Lending Institutions and providing holistic socio-economic upliftment for the Street Vendors and their families.

12-Apr-2022: ‘SVANidhi se Samriddhi’ launched in additional 126 cities

Shri Manoj Joshi, Secretary, Ministry of Housing and Urban Affairs (MoHUA) today launched ‘SVANidhi se Samriddhi’ program in additional 126 cities across 14 States/ UTs, in the presence of senior officials of States/UTs and various Central Ministries.

‘SVANidhi se Samriddhi’, an additional program of PM SVANidhi was launched on 4th January 2021 in 125 cities in Phase 1, covering approximately 35 Lakh Street vendors and their families. 22.5 lakh scheme sanctions have been extended to them including 16 lakh insurance benefits under Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeeban Jyoti Yojana and 2.7 Lakh pension benefits under Pradhan Mantri Shram Yogi Maan Dhan Yojana, amongst other such benefits. Considering the success of Phase I, MoHUA launched the program expansion to additional 126 cities with an aim to cover 28 Lakh Street vendors and their families, with a total target of 20 Lakh scheme sanctions for FY 2022-23. The remaining cities would be gradually added to the program.

MoHUA has been implementing Prime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi), a Central Sector Scheme since 1st June 2020. The scheme aims to provide an affordable working capital loan to Street Vendors and has successfully crossed the 30 Lakh mark. As envisioned by the Honourable Prime Minister, the scheme aims to not only extend loans to street vendors, but also aims for their holistic development and economic upliftment. Keeping this in mind, ‘‘SVANidhi se Samriddhi’ program was started to provide social security benefits to street vendors for their holistic development and socio-economic upliftment.

Secretary, MoHUA in his address today stated that in one year of its implementation, despite the challenges posed due to COVID-19 pandemic in the year 2020-21, the program was successful in providing social security benefits to the street vendor families and thereby protecting them from any risks and vulnerabilities of life and livelihoods. Shri Joshi urged officials of participating Central Ministries and States/UTs to strive towards achieving holistic development of street vendors of our cities and once again make this program a success.

Shri Sanjay Kumar, Additional Secretary, MoHUA mentioned that the program has two-fold achievements: one, a central database of Street vendors and their families is created on various socio-economic indicators. Second, a first of its kind inter-ministerial convergence platform is established between various Central Ministries to extend safety net of welfare schemes to street vendor households.

Under the program, socio-economic profiling of PM SVANidhi beneficiaries and their families is conducted to assess their eligibility for 8 Government of India’s welfare schemes and facilitate sanctions of eligible schemes. These schemes include Pradhan Mantri Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, Pradhan Mantri Jan Dhan Yojana, Registration under Building and other Constructions Workers (Regulation of Employment and Conditions of Service) Act (BOCW), Pradhan Mantri Shram Yogi Maan Dhan Yojana, National Food Security Act (NFSA) portability benefit – One Nation One Ration Card (ONORC), Janani Suraksha Yojana, and Pradhan Mantri Matru Vandana Yojana (PMMVY). Quality Council of India (QCI) is the implementing partner for the programme.

31-Mar-2022: PM SVANidhi Scheme facilitates provision of collateral free working capital loan to street vendors to restart their businesses

The Ministry of Housing and Urban Affairs (MoHUA) is implementing Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme since June 01, 2020 to facilitate provision of collateral free working capital loan to street vendors to restart their businesses, which were adversely impacted during the Covid-19 pandemic.  The salient features of the Scheme are:

1. Facilitate provision of collateral free working capital loan up to ₹10,000 of 1-year tenure; enhanced loan of ₹20,000 and ₹50,000 in the second and third tranches respectively, on repayment of earlier loans.
2. Incentivize regular repayment, through interest subsidy @ 7% per annum; and
3. Reward digital transactions, by way of cash back up to ₹1,200 per year.

As on March 24, 2022, the number of beneficiaries under the PM SVANidhi Scheme are 29.1 lakh and a credit of ₹3,170 crore has been disbursed.

PM SVANidhi Scheme has achieved its objective of facilitating loans to the Street Vendors to restart their business. As on March 24, 2022, 30.5 lakh loans which include 1st as well as 2nd tranche loans, have been disbursed.

As on March 24, 2022, Private Sector Banks have disbursed 61,358loans, which account for just 2% out of total of 30.5 lakh loans disbursed.

The Ministry of Housing and Urban Affairs (MoHUA) & Department of Financial Services (DFS) regularly conduct review meetings with the Lending Institutions (LIs) including private sector banks, to improve their performance. From FY 2020-21 to FY 2021-22, the percentage share in loans sanctioned by Private Sector Banks has increased from 1.9% to 11.6% while percentage of share in disbursements has increased from 1.7% to 2.5%.

The Ministry has signed an MoU with Small Industries Development Bank of India (SIDBI) for implementation of PM SVANidhi Scheme. SIDBI has leveraged the Udyami Mitra Portal and the network of lending Institutions, which include Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks, Non-Banking Financial Companies (NBFCs) & Micro-Finance Institutions (MFIs) for scheme implementation.

The Lending Institutions charge rates of interest as per the extant Reserve Bank of India guidelines.

An interest subsidy of 7% is paid on quarterly basis on timely repayment of the loans.

14-Mar-2022: 28,69,477 eligible beneficiaries benefited under PM SVANidhi Scheme

As apprised by Ministry of Housing and Urban Affairs (MoHUA), Street Vendors engaged in vending in urban areas as on or before March 24, 2020 are eligible for benefits under PM SVANidhi Scheme. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha today.

The Minister stated that 28,69,477 eligible beneficiaries have benefited under the PM SVANidhi Scheme till March 7, 2022. So far, the Minister stated, an amount of Rs 45.21 crore & Rs 7.55 crore have been paid as interest subsidy and cash back respectively, the Minister stated.

The Minister stated that PM SVANidhi is a Central Sector Scheme. No funds are released to the States for disbursal to beneficiaries. Loan amount is directly released to the beneficiaries by the Lending Institutions, the Minister added.

Giving more details, the Minister stated that an interest subsidy of 7% is paid on quarterly basis through direct benefit transfer to the borrower on repayment of the loan instalments and cash back of upto Rs 100 per month is provided to the street vendors to incentivize digital transactions.

The Minister stated that the eligible vendors are identified as per following criteria:-

1. Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
2. The vendors, who have been identified in the ULB led survey, but have not been issued Certificate of Vending / Identity Card;
3. Street Vendors, left out of the survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
4. The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.

Giving details on the rate of interest charged by different types of Lending Institutions under PM SVANidhi Scheme, the Minister stated as under:-

1. In case of Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks & SHG Banks, it is as per their prevailing rates of interest as per their Board approved policies.
2. In case of Non-Banking Finance Company (NBFC), NBFC-Micro-Finance Institutions (MFIs) etc., it is as per RBI guidelines for respective lender category.
3. For MFIs (non NBFC) & other lender categories not covered under the RBI guidelines, it is applicable as per the extant RBI guidelines for NBFC-MFIs.

An interest subsidy of 7% is paid on a quarterly basis on timely repayment of the loan instalments. The interest above the subsidy is borne by the beneficiary.

20-Dec-2021: Loan worth ₹2,714 Cr disbursed to 27.06 lakh beneficiaries under PM SVANidhi Scheme so far

Under PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme), as on 13.12.2021, 30.75 lakh loans amounting to ₹3,095 Cr have been sanctioned and 27.06 lakh loans amounting to ₹2,714 Cr have been disbursed.  In Jharkhand, 28,466 loans amounting to ₹28.77 Cr have been sanctioned and 26,297 loans amounting to ₹26.48 Cr have been disbursed.

Out of the total 27.06 lakh beneficiaries, 59% are male and 41% are female.

As on 13.12.2021, 6.75 lakh applications have been returned by the banks.

29-Jul-2021: 22.7 lakh loans amounting to ₹2,243 crore have been disbursed to street vendors under SVANIDHI scheme

The Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014 is implemented by respective States/ Union Territories (UTs) by framing their respective Rules, Scheme, Bye-laws and Plan for Street Vending. So far, Rules under the Act have been notified by all the States/ UTs. Scheme has been notified by all the States/ UTs except Lakshadweep and Ladakh. Meghalaya has its own Street Vendors Act, 2014.

Ministry of Housing and Urban Affairs is implementing Pradhan Mantri Street Vendors’ Atma Nirbhar Nidhi Scheme (PM SVANidhi) since June 01, 2020 to facilitate working capital loan of upto₹10,000 of 1 year tenure to Street Vendors, vending in urban areas, to resume their businesses, adversely impacted by the pandemic. On prepayment or repayment, they are eligible for an enhanced working capital loan of upto ₹20,000 and ₹50,000 in the second and third tranches respectively. In addition, ‘SVANidhi se Samriddhi’ initiative, designed to build safety net for the beneficiaries’ families by linking them to existing socio-economic welfare schemes of Government of India. It was launched in January 2021 for 125 select cities.

As on July 26, 2021, 43.1 lakh loan applications have been received, out of these 25.2 lakh loans have been sanctioned and 22.7 lakh loans amounting to ₹2,243 crore have been disbursed. In addition, Socio-economic profiling of 5.1 lakh beneficiaries along with their family members has been completed and 1.5 lakh scheme benefits have been extended.

Street Vendors engaged in vending in urban areas as on or before March 24, 2020 are eligible for benefit under PM SVANidhi Scheme.  The eligible vendors are identified as per following criteria:

1. Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
2. The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card;
3. Street Vendors, left out of the ULB led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
4. The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.

In Maharashtra, as on July 26, 2021, loans have been disbursed to 1.6 lakh street vendors amounting to ₹164 Crore.  In Mumbai and Pune, loans have been disbursed to 6,395 and 6,169 Street Vendors respectively.

In addition, socio-economic profiling of 14,094 beneficiaries along with their family members has been completed and 7,998 scheme benefits have been extended in Maharashtra. Mumbai and Pune are not part of 125 cities where ‘SVANidhi se Samriddhi’ is being implemented

PM SVANidhi is a Central Sector Scheme.

In Maharashtra, as on July 26, 2021, 4.2 lakh loan applications have been received, out of these 1.9 lakh loans have been sanctioned and 1.6 lakh loans have been disbursed. In Mumbai, 21,527 loan applications have been received, out of these 8,526 lakh applications have been sanctioned and 6,395loans have been disbursed. In Pune, 12,107 loan applications have been received, out of these 6,946 lakh loans have been sanctioned and 6,169 loans have been disbursed.

22-Mar-2021: 23.24 lakh loans have been sanctioned and 18.54 lakh loans have been disbursed under PM SVANidhi Scheme

The Ministry of Housing and Urban Affairs (MoHUA) has informed that, on 15.03.2021, 23.24 lakh loans have been sanctioned and 18.54 lakh loans have been disbursed to the beneficiaries under the Pradhan Mantri Street Vendors, Aatma Nirbhar Nidhi Scheme (PM SVANidhi).

The Minister stated that MoHUA launched Pradhan Mantri Street Vendors, Aatma Nirbhar Nidhi Scheme (PM SVANidhi) on June 1, 2020, with the objective to facilitate collateral free working capital loan up to Rs. 10,000 of one year tenure, 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 @ 7% per annum on regular repayment of loan and cash-back reward upto Rs. 100 per month on undertaking prescribed digital transactions.

The Minister further stated that on timely or early repayment, the vendors are eligible for enhanced working capital loan during the next cycle. The scheme further provides for Socio-economic profiling of beneficiaries and their families to determine their eligibility for various central Government welfare Schemes and link them to these schemes. The Scheme also aims to facilitate beneficiary Street Food Vendors to on-board e-commerce platforms for food delivery.

4-Feb-2021: More than 33.7 Lakh Loan Applications Received Under PM SVANidhi Scheme Till 31st January 2021

The Ministry of Housing and Urban Affairs is implementing a Centrally Sponsored Scheme, namely, ‘Deendayal Antyodaya Yojana- National Urban Livelihood Mission’ (DAY-NULM) to remove poverty and vulnerability of urban poor households. The Support to Urban Street Vendors (SUSV) component of the Mission aims at addressing livelihood concerns of the urban street vendors by facilitating access to suitable spaces, institutional credit, social security, etc.

Ministry has launched, on June 01, 2020, the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme to facilitate collateral free working capital loans up to ₹10,000 of 1 year tenure, to about 50 lakh street vendors to restart their business. It provides for incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan and cash-back up to ₹1,200 per annum on undertaking prescribed digital transactions. ‘Letter of Recommendation’ (LoR) issued under the Scheme enables those Street vendors, who were either left out of the Survey or had started vending after completion of the survey or are from rural / peri-urban areas but vend in the urban areas, to avail the Scheme benefits. Socio-economic profiling of beneficiaries and their families has been launched to determine their eligibility for various government welfare schemes and to assist them in getting benefit of these schemes. Ministry is also facilitating Street Food Vendors to on-board e-commerce platforms.

Under DAY-NULM, funds released since FY 2014-15is ₹3,487.32 Cr. The approved outlay for PM SVANidhi scheme is ₹600 Cr. Out of this ₹66.56 Cr. has been utilized.

Under the DAY-NULM, more than 42 lakh street vendors have been identified, as reported by States/ UTs. Out of these, Certificates of Vending (CoVs) have been issued to over 21.7 lakh street vendors and ID Cards have issued to over 24.4 lakh street vendors.

Under PM SVANidhi Scheme more than 33.7 lakh loan applications have been received as on 31.01.2021. Out of these, over 18.4 lakh loans have been sanctioned and over 13.8 lakh loans have been disbursed.

The DAY-NULM is implemented across the country, including Rajasthan, through the 3 tier Mission Management Units i.e. at the National, State and Urban Local Body (ULB) level.

The Small Industries Development Bank (SIDBI) is the implementation partner for the PM SVANidhi, a Central Sector Scheme. ULBs and Lending Institutions play an important role in identification of Street Vendors and disbursement of loans to them.

11-Dec-2020: MOHUA launches Socio-Economic Profiling of PM SVANidhi beneficiaries

Shri Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs launched a programme of Socio-Economic Profiling of PM SVANidhi beneficiaries and their families today, as an additional component of PM SVANidhi Scheme, in the presence of representatives of various Central Ministries and State officials. Under this, a complete profile of each PM SVANidhi beneficiary and their family members will be prepared. Based on the profiled data, benefits of the various eligible Central Schemes would be extended to them for their holistic socio-economic upliftment.

The launch has been in the context of the vision of Hon’ble Prime Minister that PM SVANidhi scheme should not be seen merely from the perspective of extending loans to street vendors but should also be seen as an instrument for outreach to street vendors and their families for their holistic development and socio-economic upliftment.

In the first phase, 125 cities have been selected for the programme. The profile will identify potential eligibility of beneficiaries and their family members for select Central Government schemes and facilitate linkages. Besides this, the States/ UTs would also have an option to extend their respective State/ UT specific welfare schemes to them. M/s Quality Council of India (QCI) has been appointed as implementing partner for the programme.

Prior to the complete roll out, MoHUA will run a pilot program in six cities, namely Gaya, Indore, Kakching, Nizamabad, Rajkot, and Varanasi.

Ministry of Housing and Urban Affairs (MoHUA) is implementing Prime Minister Street Vendors Aatmanirbhar Nidhi (PM SVANidhi) Scheme since June 1, 2020, with an objective to provide affordable working capital loan up to ₹10,000 to Street Vendors for facilitating resumption of their livelihoods adversely affected by the COVID-19 pandemic.

27-Oct-2020: PM interacts with beneficiaries of PM SVANIDHI Yojana from UP

The Prime Minister Shri Narendra Modi interacted with beneficiaries of PM SVANIDHI Yojana from Uttar Pradesh through video conferencing.

The Prime Minister while interacting with the beneficiaries gave suggestions on benefits of digital payment and how to get cashback benefits. He also said with this money one can have proper education and a better career.

Later in his address, the Prime Minister said earlier it was difficult for even the salaried people to approach the banks for loans while the poor and the street vendors could not even think of approaching the bank. But now, he said, the banks are reaching the doorsteps of people to provide loans for helping the latter start their ventures.

The Prime Minister wished the beneficiaries and lauded the bankers for their efforts. He said their efforts will help the poor celebrate their festivals. He said this day is an important day for Aatmanirbhar Bharat and the day to honour the street vendors. He said the nation recognizes their contribution towards self-reliant India. He said when the Corona pandemic broke out, other nations were concerned how their workers would cope, but in our country our workers have proved that they can surmount any challenge and can fight back and win.

The Prime Minister said the Government launched the Garib Kalyan Yojana with a package of Rs 1 Lakh 70 thousand crores to mitigate the sufferings of the poor during the pandemic. He said in the economic stimulus of Rs 20 lakh crores the focus was on the poor. He expressed happiness that the street vendors can resume their work and become self-sufficient again.

Shri Narendra Modi appreciated the speed with which the scheme is being implemented across the country. The Prime Minister said there is no need for a guarantor for the loans under the SVANidhi Scheme and that the provision of loans is hassle free. One can upload the application online oneself at any common service center or Municipal office or by going to a bank.

The Prime Minister said for the first time since independence street vendors are getting unsecured affordable loans. He said the maximum applications of urban street vendors have come from UP. He said under this scheme, out of the 25 lakh loan applications received in the country, more than 6.5 lakh applications are from UP alone. Out of the 6.5 lakh applications received from UP, 4.25 lakh applications have been approved. He said that stamp duty has been exempted for the loan agreement of SVANidhi Yojana in UP.

The Prime Minister thanked the Government of UP for providing financial assistance of Rs 1000 to 6 lakh street vendors during the pandemic.

He said that most of the street vendors who were given the loan through the SVANidhi scheme are repaying their loan on time proving that small time borrowers do not compromise on their honesty & sincerity.

The Prime Minister urged the need to spread awareness about the scheme to as many people as possible. He said under this scheme there will also be a 7 percent discount on interest on timely repayment and there will be Rs 100 cashback a month on digital transactions.

The Prime Minister remarked that people doubted the efficacy of the Jan Dhan accounts but that the same today are helping the poor at the time of crisis.

He listed the initiatives of the Government for the welfare of the poor.

On this occasion the Prime Minister assured the street vendors, workers and farmers that the country will leave no stone unturned to advance their business and improve their life.

5-Oct-2020: MoHUA Joins Hands with Swiggy to Take Street Food Vendors Online Under PM SVANIDHI Scheme

As a part of Prime Minister Street Vendor’s Aatmanirbhar Nidhi (PM SVANidhi) Scheme, Ministry of Housing & Urban Affairs (MoHUA) has entered into an MoU with Swiggy, the leading food ordering and delivery platform in India, to onboard street food vendors on its ecommerce platform, giving them online access to thousands of consumers and help these vendors grow their businesses. The MoU was exchanged by, Joint Secretary Shri Sanjay Kumar and Chief Financial Officer, Swiggy Shri Rahul Bothra, through webinar in the presence of Secretary, Ministry of Housing & Urban Affairs (MoHUA)Shri Durga Shanker Mishra, and officials of Swiggy and Ministry. Municipal Commissioners of Ahmedabad, Chennai, Delhi, Indore, and Varanasi also participated in the ceremony through video conferencing facility.

During the ongoing COVID-19 pandemic where physical distancing is the key to check it’s spread, this novel initiative aims to radically transform the business of Street Vendors across cities, by facilitating them to receive orders and serve customers using online mode of business. In a first of its kind initiative, MoHUA has coordinated with the key stakeholders including Municipal Corporations, FSSAI, Swiggy and GST officials to ensure that necessary prerequisites are completed for this initiative.

To begin with, MoHUA and Swiggy will run a pilot program by on-boarding 250 vendors across five cities namely – Ahmadabad, Chennai, Delhi, Indore, and Varanasi. The street vendors will be helped with PAN and FSSAI registration, training on technology/ partner app usage, menu digitization and pricing, hygiene and packaging best practices. Upon the successful completion of the pilot, MoHUA and Swiggy plan to expand this initiative across the country in phases. This partnership is seen as yet another move by MoHUA to empower street vendors with digital technology and facilitate greater income earning opportunities by being present on a popular ecommerce platform like Swiggy.

During the ceremony, Secretary, HUA also launched the updated and modified version of PM SVANidhi Dashboard, which facilitates users not only with better granular view of the Scheme’s performance but also with additional tools for comparisons.

The Ministry is implementing PM SVANidhi Scheme since June 01, 2020, for providing affordable working capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown. This scheme targets to benefit over 50 lakh Street Vendors who had been vending on or before 24 March, 2020, in urban areas including those from surrounding peri-urban/ rural areas. Under the Scheme, the vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year. On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis. There will be no penalty on early repayment of loan. The scheme promotes digital transactions through cash-back incentives up to an amount of Rs. 1,200 per annum. The vendors can fulfill their aspiration of climbing up the economic ladder by availing the facility of enhanced credit limit on timely/ early repayment of loan.

As on October 4, 2020, over 20 lakh loan applications have been received under the PM SVANidhi Scheme. Out of these over 7.5 lakh loans have been sanctioned and over 2.4 lakh loans disbursed.

8-Sep-2020: PM to hold ‘SVANidhi Samvaad’ with street vendors from Madhya Pradesh on 9th September

Prime Minister Shri Narendra Modi will hold ‘SVANidhi Samvaad’ with street vendors from Madhya Pradesh on 9th September, 2020.

The Government of India had launched PM SVANidhi scheme on 1st June, 2020 to help poor street vendors, impacted by COVID-19, resume livelihood activities.

4.5 lakh street vendors were registered in Madhya Pradesh, with more than 4 lakh vendors having been given identification and vendor certification. The applications of 2.45 lakh eligible beneficiaries have been presented through the portal to Banks, out of which acceptance has been granted to around 1.4 lakh street vendors of amount worth Rs 140 crore. The state of Madhya Pradesh stands first in the number of total applications accepted, with 47% of these coming from the state alone.

Arrangements for beneficiaries of the scheme in the state to watch the program in public places have been made through LED screens in 378 municipal bodies.

The program will be telecast through webcast, for which pre-registration is being done on MyGov’s link https://pmevents.ncog.gov.in/

The Chief Minister of Madhya Pradesh, Shri Shivraj Singh Chauhan, will also participate in the program through video conferencing.

Prime Minister will also interact with 3 beneficiaries from the state by connecting virtually with them from their vending locations.

19-Jun-2020: Scheme of Special Micro-Credit Facility launched for Street Vendors - Striving towards Aatmanirbhar Bharat

A Memorandum of Understanding has been signed between Ministry of Housing & Urban Affairs and Small Industries Development Bank of India (SIDBI), here today, in order to engage SIDBI as the Implementation Agency for PM Street Vendor’s Aatmanirbhar Nidhi (PM SVANidhi) - a Special Micro-Credit Facility for Street Vendors. The MoU was signed by Shri Sanjay Kumar, Joint Secretary on behalf of Ministry of Housing and Urban Affairs (MoHUA) and Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI, in the presence of Shri Hardeep S. Puri, Hon’ble Minister of State (Independent Charge) MoHUA.

As per the MoU terms, SIDBI will implement the PM SVANidhi Scheme under the guidance of MoHUA. It will also manage the credit guarantee to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). It will develop and maintain a customized and integrated IT Platform providing end-to-end solutions, including documentation of all the processes and workflows for an end-to-end solution, through a Portal and a Mobile App, to ensure engagement and information flow between Urban Local Bodies (ULBs), Lending Institutions, Digital Payment Aggregators and other stakeholders.

It will leverage the network of lending Institutions like Scheduled Commercials Banks (SCBs), Non-Bank Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Co-operative Banks, Small Finance Banks (SFBs), Regional Rural Banks (RRBs), etc. for the Scheme implementation.

With a view to ensure effective implementation, SIDBI shall also provide a Project Management Unit (PMU), comprising of  domain experts in training/ capacity building, project and platform management, Information Education and Communication (IEC), banking, NBFC and MFI sectors etc., for the period of PM SVANidhi i.e. upto March 2022.

It is pertinent to mention that PM SVANidhi was launched by the Ministry of Housing and Urban Affairs had, on June 01, 2020for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown. This scheme targets to benefit over 50 lakh Street Vendors. Under the Scheme, the vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year. On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis. There will be no penalty on early repayment of loan. The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month. Moreover, the vendors can achieve their ambition of going up on the economic ladder by availing the facility of escalation of the credit limit on timely/ early repayment of loan.

Ministry has already circulated the Guidelines of the Scheme to all stakeholders. States and other stakeholders, including Banks, MFIs, NBFCs, SIDBI and Street Vendors’ Associations to sensitize them about their role and responsibilities. The integrated IT platform for PM SVANidhi is likely to be launched by forth week of June, 2020. In the first phase, 108 cities have been selected, in consultation with States/UT's, for saturation by September 2020. Disbursement of loan is planned to commence in July, 2020.

17-Jul-2020: Mobile App of PM SVANidhi launched to bring Microcredit facility for street vendors at their door steps

Shri Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs launched the Mobile Application of PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) here today. This App aims to provide user friendly digital interface for Lending Institutions (LIs) and their field functionaries for sourcing and processing loan applications of street vendors under the Scheme. The launch event was organised through a video conference in which, besides senior officials from the Ministry, Principal Secretaries dealing with Urban Development Department and other officials from the States and UTs participated.

PM SVANidhi Mobile App is a step towards boosting the use of digital technology and will enable field functionaries of LIs like Banking Correspondents (BCs) and Agents of Non-Banking Financial Companies (NBFCs)/ Micro-Finance Institutions (MFIs), who have proximity with the street vendors, to ensure maximum coverage of the Scheme. It is believed that launch of Mobile App will give impetus to the implementation strategy of the Scheme besides promoting paper-less digital accessing of micro-credit facilities by the Street Vendors.

Ministry has already launched the Web Portal on June 29, 2020. This App has all the features similar to the Web Portal of PM SVANidhi added with the feature of easy portability. The features include vendor search in the survey data, e-KYC of applicants, processing of applications, and real time monitoring. The App can be downloaded from the Google play store for use by the LIs and their field functionaries. Since the commencement of lending process under PM SVANidhi on July 02, 2020, more than 1,54,000 Street Vendors have applied for working capital loan across States/ UTs and out of which over 48,000 have already been sanctioned.

PM SVANidhi was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020, for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown. This scheme targets to benefit over 50 lakh Street Vendors who had been vending on or before 24 March, 2020, in urban areas including those from surrounding peri-urban/ rural areas. Under the Scheme, the vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year. On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis. There will be no penalty on early repayment of loan. The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month. Moreover, the vendors can achieve their ambition of going up on the economic ladder by availing the facility of enhancement of the credit limit on timely/ early repayment of loan.