scheme details

scheme details

Title : PMSVANidhi

Description :

PM- Street Vendors AtmaNirbhar (PM- SVANidhi)

          The Ministry of Housing & Urban Affairs (MoHUA), Govt. of India has launched a Special Micro-Credit Facility scheme namely PM- Street Vendor’s AtmaNirbhar (PM- SVANidhi)- to mitigate the adverse impact on the livelihoods of the urban street vendors during the lockdown due to COVID-19. The Scheme period is upto March, 2022.  The scheme is a Central Sector Scheme i.e. fully funded by Govt. of India.  The interest subsidy amount will be claimed by banks directly from Ministry of Housing & Urban Affairs.  The Govt. of India has included MC, Karnal, Hisar and Ambala in the 125 towns of country selected for implementation of scheme on Pilot basis.

The salient features of scheme are as under:

1.    To facilitate working capital loan up to Rs. 10,000 by providing interest subsidy @7% P.A.

2.    To incentivize regular repayment; and reward digital transactions

3.    Interest subsidy will be transferred directly into the borrower's account through DBT mode in 4 equal installments.

4.    Each beneficiary will be eligible for next trench of loan after timely repayment of loan.

5.    No collaterals are required.

6.    Promotion of Digital Transactions by Vendors.

Rules & Schemes Notified

ü  Haryana has adopted the Central Street Vendors Act, 2014.

ü  Haryana notified Street Vendors Rules, 2017 on 31.01.2017.

ü  Haryana notified its amended Haryana Street Vendors Rules, 2020 on 27.05.2020.

ü  Haryana notified “The Haryana Street Vendors (Protection of Livelihood and Regulation of Street Vending) Scheme, 2020 on 12.06.2020.

ü  As per PM-SVANidhi scheme, the State Level Monitoring and Town Level Committees under PM-SVANidhi notified vide notification dated 24.06.2020.

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