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SVANidhi Scheme: PM Modi grants loans to 3 lakh street vendors … Watch Here

Oct. 27, 2020, 12:03 p.m.

New Delhi: There is a major piece of good news in store for street vendors.

Prime Minister Narendra Modi distributed loans under the Street Vendors Self-Reliance Fund on Tuesday. This PM SVANidhi scheme is for those who run roadside shops.

A total of 3 lakh street vendors are expected to avail of the benefits offered by this scheme. PM Modi will also interact with the beneficiaries during this program.

The PM SVANidhi scheme was launched on June 1, 2020 for poor people selling goods on roads and tracks, who were affected due to the coronavirus pandemic.

“At 10.30 am tomorrow, through video conferencing, I will communicate with my brothers and sisters from Uttar Pradesh who sell goods on the street. You will get a chance to know about how the Pradhan Mantri Swanidhi Yojana has given new strength to these companions,” PM Modi announced in a post on Twitter on Monday.

Road vendors can get capital up to Rs 10,000 at concessional rates under the PM SVANidhi Scheme. So far, more than 24 lakh applications have been received under the scheme, with 557,000 applications from vendors in Uttar Pradesh (UP), the highest across the country.

Out of these 24 lakh applications, 12 lakh have been approved and loans worth about 5.35 lakh have been disbursed. More than 6 lakh applications have been received in Uttar Pradesh, out of which 3.27 lakh have been approved and loan of 1.87 lakh has been disbursed.

Uttar Pradesh (UP) Chief Minister Yodi Adityanath also attended the event.

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