Ministry of Housing & Urban Affairs

PM SVANidhi Scheme facilitates provision of collateral free working capital loan to street vendors to restart their businesses


As on March 24, 2022, a credit of ₹3,170 crore has been disbursed to 29.1 lakh beneficiaries

Posted On: 31 MAR 2022 2:39PM by PIB Delhi

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. The State/UT-wise, Year-wise details including for Maharashtra and Bihar are at Annexure-I.

 

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 private bank-wise performance is at Annexure-II.

 

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.

 

ANNEXURE-I

Statement showing State-wise number of beneficiaries and amount disbursed under PM-SVANidhi scheme

As on March 24, 2022

 

Name of the State/UT

FY 2020-21

FY 2021 -22

Total No. of

Beneficiaries
 

Total Credit Disbursed (₹ in lakhs)

No. of

Beneficiaries
 

Credit Disbursed
(₹ in lakhs)

No. of

Beneficiaries
 

Credit Disbursed
(₹ in lakhs)

Andaman and Nicobar Islands

387

38.7

84

18.4

471

57.1

Andhra Pradesh

1,12,684

11,199.0

69,085

8,671.5

    1,81,769

   19,870.5

Arunachal Pradesh

                   1,588

                  158.7

                      866

                  108.8

                       2,454

                 267.5

Assam

                 14,155

               1,411.3

                 37,084

               4,039.8

                     51,239

              5,451.1

Bihar

                 28,857

               2,848.1

                 17,756

               1,892.7

                     46,613

              4,740.8

Chandigarh

                   2,051

                  203.9

                   1,324

                  157.9

                       3,375

                 361.8

Chhattisgarh

                 40,290

               3,992.5

                   6,104

               1,095.7

                     46,394

              5,088.1

Daman & Diu and Dadra & Nagar Haveli

                   1,021

                  101.7

                      131

                    14.5

                       1,152

                 116.2

Delhi

                 31,162

               3,094.2

                   9,767

               1,046.1

                     40,929

              4,140.3

Goa

                   1,017

                  101.1

                      206

                    51.9

                       1,223

                 152.9

Gujarat

             1,02,347

             10,160.0

                 90,805

             12,048.0

                  1,93,152

            22,208.0

Haryana

                 16,942

               1,677.7

                   8,456

               1,199.0

                     25,398

              2,876.7

Himachal Pradesh

                   2,768

                  275.9

                      550

                  160.0

                       3,318

                 435.9

Jammu and Kashmir

                 11,505

               1,148.8

                   2,397

                  439.3

                     13,902

              1,588.1

Jharkhand

                 22,033

               2,189.8

                   6,216

                  870.1

                     28,249

              3,059.9

Karnataka

             1,07,966

             10,759.9

                 31,085

               5,065.5

                  1,39,051

            15,825.4

Kerala

                   8,047

                  799.4

                   1,223

                  468.1

                       9,270

              1,267.5

Ladakh

                      247

                    24.7

                        14

                    12.4

                           261

                    37.1

Madhya Pradesh

             3,13,879

             31,205.0

             1,51,238

             23,100.0

                  4,65,117

            54,305.0

Maharashtra

             1,49,107

             14,812.4

                 46,202

               6,516.6

                  1,95,309

            21,329.0

Manipur

                   6,094

                  608.7

                   2,388

                  257.0

                       8,482

                 865.7

Meghalaya

                      253

                    25.3

                      323

                    37.5

                           576

                    62.8

Mizoram

                      442

                    44.2

                        33

                    20.7

                           475

                    64.9

Nagaland

                   1,202

                  120.2

                      270

                    57.4

                       1,472

                 177.6

Odisha

                 27,475

               2,715.6

                   6,751

                  905.0

                     34,226

              3,620.7

Puducherry

                   1,130

                  112.9

                      115

                    25.3

                       1,245

                 138.1

Punjab

                 26,664

               2,642.6

                 12,072

               1,279.6

                     38,736

              3,922.1

Rajasthan

                 50,322

               5,015.5

                 16,444

               1,667.5

                     66,766

              6,683.0

Sikkim

                         -  

                         -  

                           1

                       0.1

                               1

                      0.1

Tamil Nadu

                 87,701

               8,718.3

                 72,198

               7,550.4

                  1,59,899

            16,268.7

Telangana

             3,10,032

             30,658.1

                 33,198

             10,392.4

                  3,43,230

            41,050.5

Tripura

                   2,601

                  259.6

                      362

                    64.8

                       2,963

                 324.3

Uttar Pradesh

             5,63,792

             55,491.7

             2,11,909

             22,841.5

                  7,75,701

            78,333.2

Uttarakhand

                   9,107

                  906.6

                   1,270

                  203.8

                     10,377

              1,110.4

West Bengal

                   2,378

                  235.6

                 10,769

               1,062.6

                     13,147

              1,298.1

 Total

           20,57,246

            2,03,757

             8,48,696

            1,13,342

               29,05,942

            3,17,099

 

 

ANNEXURE-II

Bank-wise details of number of loan (including 2nd tranche loan) sanctioned & disbursed by private sector banks under PM SVANidhi scheme:

 

(As on March 24, 2022)

S. No

Name of the Private Sector Bank

No. of Loans Sanctioned

No. of Loans Disbursed

1

HDFC Bank

1,16,827

14,988

2

Jammu & Kashmir Bank Ltd

14,576

13,424

3

IDBI Bank

12,451

10,844

4

Karnataka Bank Ltd

10,018

9,143

5

Kotak Mahindra Bank Limited

4,401

2,983

6

ICICI Bank

4,237

2,708

7

Axis Bank

3,299

2,252

8

Tamilnad Mercantile Bank Ltd

1,528

1,204

9

Federal Bank

1,272

1,049

10

Karur Vysya Bank Ltd

1,159

981

11

South Indian Bank

525

476

12

The Nainital Bank Ltd

462

420

13

Bandhan Bank Ltd.

367

307

14

City Union Bank

305

275

15

IndusInd Bank

222

97

16

IDFC FIRST Bank Ltd.

76

67

17

RBL Bank Limited

58

55

18

Dhanlaxmi Bank Ltd

42

41

19

CSB BANK LTD

39

25

20

Yes Bank Ltd.

18

18

21

Lakshmi Vilas Bank

1

1

Total Private Sector Banks

1,71,883

61,358

Total Under the Scheme

      33,50,759

       30,51,244

 

This information was given by the Minister of State for Housing & Urban Affairs, Shri Kaushal Kishore, in a written reply in the Lok Sabha today.

 

***

YB/BK



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