PM SVANidhi Scheme

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Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme

S.NO	Particulars	Guidelines
1	Scheme	PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi)
2	Benefits	For working capital loan up to Rs. 10,000/- Incentivization of regular repayment Rewards for digital transactions
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: Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs). The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card. Provisional Certificate of Vending will be generated for such vendors by ULB. The ULBs are supposed to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month. Street Vendors, left out of the ULB led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC). The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC
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: On executing 50 eligible transactions in a month: Rs.50/- On executing the next 50 additional eligible transactions in a month: Rs.25/- (i.e on reaching 100 eligible transactions, the beneficiary to receive Rs.75/-). On executing the next additional 100 or more eligible transactions: Rs.25/- (i.e on reaching 200 eligible transactions, the beneficiary to receive Rs.100/-). Here eligible transactions mean a digital payout or receipt with minimum value of Rs.25/-. *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