Ministry of Housing & Urban Affairs (MoHUA) has launched Mobile app of PM SVANidhi for street vendors (SVs) on 1^st June, 2023.  With the help of mobile app, Street Vendor (SV) can apply for loan and Letter of Recommendation (LoR) under PM SVANidhi Scheme. The SV can also check their loan application status and cashback history.

As per the decision of the Cabinet Committee on Economic Affairs dated 26.04.2022, the target set under PM SVANidhi Scheme for the 1st, 2nd and 3rd loans is 42 Lakh, 12 Lakh and 3 Lakh respectively by December, 2024.   

Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme was launched with the objective of facilitating collateral free working capital loan to street vendors to restart their businesses. As on July 20, 2023 the scheme has successfully disbursed 50.63 lakh loans, amounting to ₹6,492.02 Cr., to 38.53 lakh street vendors.      

The PM SVANidhi Scheme has been made available to all street vendors vending in urban areas. Further, the lending under the Scheme has been extended from March, 2022 to December, 2024. This would help in getting more and more vendors under the ambit of the Scheme.

‘SVANidhi se Samriddhi' component under the PM SVANidhi Scheme, launched on 04 January, 2021, to build safety net for the beneficiaries’ families for improving their living conditions.

It links the beneficiaries’ families to existing eight welfare schemes of the Government of India, targeting their holistic development and socio-economic upliftment. These schemes are PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, PM Jan Dhan Yojana, One Nation One Ration Card, PM Shram Yogi Maandhan Yojana, Registration under Building and other Construction Workers (BoCW), Janani Suraksha Yojana and PM Matru Vandana Yojana.

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.

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RJ