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

S.NOParticularsGuidelines
1SchemePM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi)
2Benefits  
  1. For working capital loan up to Rs. 10,000/-
  2. Incentivization of regular repayment
  3. Rewards for digital transactions
3BeneficiariesAll 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).
4Eligible Criteria of BeneficiariesThe 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:
  1. Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs).
  2. 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.
  3. 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).
  4. 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
5Quantum of FinanceUrban street vendors will be eligible to avail a Working Capital (WC) loan of up to Rs.10,000/-
6Rate of InterestRLLR* + 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
7Interest SubsidyThe Beneficiaries availing loan under the scheme, are eligible to get an interest subsidy @ 7%.
8TenureWorking Capital Term Loan (WCTL) loan with tenure of 1 year and repaid in monthly instalments.
9MoratoriumNo moratorium period (NIL)
10RepaymentRepayment in 12 Equal monthly instalments.
11MarginNIL
12SecurityHypothecation of goods/assets financed under the Scheme.
13Scheme ValidityThe interest subsidy is available up to March 31, 2022, so the scheme validity is till 31.03.2022.
14Cash Back Incentives for Digital TransactionsBeneficiaries 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/-
15Rupay cardAll Beneficiaries under this scheme will get Rupay card linked to the saving account mentioned in the LAF.
16Processing FeeNil
17Prepayment ChargesNil