1. What is PM SVANiDHI YOJANA ?

It’s central government schemes for helping street vendors who have have been facing problem  in Covid 19.
It’s fully funded by ministry of housing and urban affairs ministry. 

PMSVANiDHI YOJANA, what is a PMSVANiDHI योजना,how to apply in PM SVANiDHI yojana loan scheme

Click on below link to know about  PMJJBY

प्रधानमंत्री जीवन ज्योति बीमा योजना

Objective

PMSVANiDHI YOJANA is basically provides credit line of rs 10000 or help of rs 10000 to street Vandors.
this scheme covers rediwala, feriwala sabjiwala, pakodwala, patriwala, bookswala, small sallon, patriwala . Street  vendors means those who have their shop at road side playing vital role to provide house hold good and services to society.
It’s basically provides loan of rs 10000 so that street vendors can again start their small business and they can get small help from govt and move towards growth off  their sectors.

PMSVANiDHI YOJANA, PM SVANiDHI Loan yojna

Eligibility criteria .

Scheme is available for all street vendors engaged in vending urban areas as on or before March 24, 2020.
Eligible vendors criteria.
1. Street vendors have possession of  certificate or identity card from urban local body.
2. Street vendors who have been identified in the list of survey of urban local body but have not  been issued identity card of street vendors.
3.Street vendors, left out of the ULBs identification survey or who have started vending after completion of the survey and have been Letter of Recommendation to that effect by the Ulb/Town vending committee.
4. List of vendors provided by State and Ulbs for assistance during lock down period.
5. System generated request received by ULBs based on recommendations of vendors after verifying credential of applicant for issuing LOR.
6. Membership details with vendors of associations including the national associations of street vendors of India(NASVI), national hawkers federation (NHF),Self Employed Women Associations(SEWA).
7. Report of local inquiry conducted by ULBs involving Self Helf Group/ Community based organisation(CBO).
8. Vendors who has gone their native place due do lock down and they come back and resume their businesses , they also eligible for loan after verification of their identity card or certificate.
 
ULBs may adopt any other verification mode for identifying vendors which can be covered under schemes.

Message from PM, PM SVANiDHI yojana,how to register in PM SVANiDHI yojana
 
List of identified street vendors will be made available on the website of the Ministry/State Government/ULBs and Web Portal developed for the purpose.
Website link for Searching Vendors name in the list.

About loan amount.

Vendors will be eligible for loan amount of rs up to 10000 in form of working capital (WC) and having tenure of one year. There is no security requirements for availing loan amount of rs 10000 from lenders institutions.
There is no charges or penalty for paying loan amount before due date. Loan repayment will be in form of monthly installment.
On timely repayment or payment  before due date. Vendors will be eligible next cycle of working capital.

Rate of interest.

Rate of interest of loan may be different for different lenders institutions.
Like  For Schedule commercial bank or rural regional banks,small finance bank (SFB) and ,cooperative banks. rate will be as per their prevailing rate of interest. 
In case of NBFC NBFC-MFI., Rate of interest will be as per RBI guidelines. In case of NBFC, NBFC-MFIs etc., interest rates will be as per RBI guidelines for respective lender category. In respect of MFIs (non NBFC) & other lender categories not covered under the RBI guidelines, interest rates under the scheme would be applicable as per the extant RBI guidelines for NBFC-MFIs.
 

Interest Subsidy.

The vendors who are availing loan under the scheme, are eligible to get an interest subsidy @ 7%. The interest subsidy amount will be credited into the borrower’s account quarterly. Lenders will submit quarterly claims for interest subsidy for quarters ending as on June 30, September 30, December 31 and March 31 during each financial year. Subsidy will only be considered in respect of accounts of borrowers, which are Standard (non-NPA as per extant RBI guidelines) on respective claim dates and only for those months during which the account has remained Standard in the concerned quarter. The interest subsidy is available up to March 31, 2022. The subsidy will be available on first and subsequent enhanced loans up to that date. In case of early payment, the admissible amount of subsidy will be credited in one go.

How to apply in the scheme.

1.  Understand the loan requirement and loan documents to fill loan application and keep document ready to fill loan application and find out the name in Vendors search Survey.
 
Website link for Searching Vendors name in the list.
2. Make sure your mobile number is linked to your Aadhaar
You are requested to make sure that your mobile phone is linked to your aadhaar number. This will be required for your e KYC/Aadhaar validation during online application process. It will also help you to get letter of Recommendation from ULB (in case required). It will also help you avail future benefits under Government welfare schemes.
It is understood from UIDAI officials that for updating mobile numbers, only a form has to be filled and no additional document is required. A link to UIDAI portal where you can find details of the nearest Aadhaar centre.
 
Website link for applying application.
 
 
 
 
Categories: Govt schemes

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