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Street sellers can apply directly to the PM Svanidhi portal or through a general service center (CSC) near someone’s area.
PM Sawwidi: Learn more eligibility, boundary, availability and more.
PM Sanvidi Yojana: The Modi government is continuously promoting a sense of entrepreneurship among people of every level across India. It is running several schemes and programs to build and encourage the spirit of entrepreneurship and provide the necessary financial assistance as required.
To strengthen and support the street vendors, to follow their missions and purpose, the Modi government runs a micro-credit scheme for road vendors, known as the self-sufficient of PM Sawidhi or PM street seller.
FM Nirmala Sitarman said in his Union Budget 2025 speech that the PM Sankidhi Yojana has benefited more than 68 lakh street vendors, which gives them relief from loans in high-onion informal sector.
What is PM Svanidhi?
The Ministry of Housing and Urban Affairs launched on June 1, 2020 during the Kovid 19 epidemic, the scheme aims to provide financial assistance to the road vendors at a subsidized rate.
It offers a collateral-free working capital loan of up to Rs 10,000, Rs 20,000 and Rs 50,000. This scheme provides regular repayment of loan and cashback of 7 percent per year for 7 percent per year for fixed digital transactions.
In addition, there is no pre-stagous fee on the loan.
What is the eligibility criteria for PM Svanidhi?
The PM Sanvidhi Yojana is available to all road vendors who are engaged in vending in urban areas on or before March 24, 2020.
There are criteria for eligibility of road vendors:
Street vendor in possession of the certificate of vending/identity card issued by urban local bodies (ULB)
Vendors, who have been identified in the survey, but not issued a certificate of vending/identity card; The provisional certificate of vending will be generated for such vendors through an IT -based platform. The ULB is encouraged to release such vendors.
Street vendors, the vice Identification has been released out of the survey or who started vending after completion of the survey and the Recommendation letter for that impact (LOR) has been released by the ULB/Town Vending Committee (TVC).
Nearby development/vendors from the urban-urban/rural areas have been denied the geographical boundaries of the ULBS and the recommendation letter (LOR) has been issued by the ULB/TVC for that effect.
How to apply for PM Svanidhi Scheme?
Street sellers can apply directly to the PM Svanidhi portal or through a general service center (CSC) near someone’s area.
Is PM Sanvidhi closed now?
According to Mohua instructions, the loan period under the PM Sanvidhi Yojana concluded on 31 December 2024. No new application for all loan installments will be accepted from January 01, 2025.
However, in the budget speech, FM Sitarman said that the scheme will be rebuilt with a range of Rs 30,000 with a range of Rs 30,000 and capacity-building support with UPI-Linked Credit Card.
