Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme
S.NO | Particulars | Guidelines |
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1 | Scheme | PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi) |
2 | Benefits |
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3 | Beneficiaries | All street vendors engaged in vending in urban areas as on or before March 24, 2020. Identification of beneficiaries under the scheme will be done by Urban Local Bodies (ULB) / Town Vending Committees (TVC). |
4 | Eligible Criteria of Beneficiaries | The Scheme is available to all street vendors engaged in vending in urban areas as on or before March 24, 2020. The eligible vendors will be identified as per following criteria:
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5 | Quantum of Finance | Urban street vendors will be eligible to avail a Working Capital (WC) loan of up to Rs.10,000/- |
6 | Rate of Interest | RLLR* + 1.45% + BSS (0.50) i.e. at present Effective rate is 7.05 + 1.45 + 0.50 = 9.00% *Repo Linked Lending Rate – Variable |
7 | Interest Subsidy | The Beneficiaries availing loan under the scheme, are eligible to get an interest subsidy @ 7%. |
8 | Tenure | Working Capital Term Loan (WCTL) loan with tenure of 1 year and repaid in monthly instalments. |
9 | Moratorium | No moratorium period (NIL) |
10 | Repayment | Repayment in 12 Equal monthly instalments. |
11 | Margin | NIL |
12 | Security | Hypothecation of goods/assets financed under the Scheme. |
13 | Scheme Validity | The interest subsidy is available up to March 31, 2022, so the scheme validity is till 31.03.2022. |
14 | Cash Back Incentives for Digital Transactions | Beneficiaries would be incentivized with a monthly cashback* in the range of Rs.50/- to Rs.100/- as per the following criteria:
*Subject to Maximum Rs. 1200/- |
15 | Rupay card | All Beneficiaries under this scheme will get Rupay card linked to the saving account mentioned in the LAF. |
16 | Processing Fee | Nil |
17 | Prepayment Charges | Nil |