PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) which was given to street vendors as a soft loan was duly repaid by almost half of the beneficiaries in the Palghar Municipal area. This has made the loan-repaid beneficiaries eligible for a higher loan amount.
Scheme was launched to empower street vendors
Ministry of Housing & Urban Affairs had launched a scheme PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) to empower street vendors by not only extending loans to them but also for their holistic development and economic upliftment. The scheme intended to facilitate collateral-free working capital loans of up to ₹10,000 of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas.
225 vendors become eligible for second stage of scheme
Palghar Nagarparishad conducted a survey of street vendors for checking the eligibility of PM Svanidhi and finalised a list of 891 beneficiaries. 628 street vendors got their loans sanctioned and the loan was disbursed to 522.
225 street vendors who had repaid the loan amount in the stipulated duration are eligible for a loan of ₹20 thousand in the second stage and ₹50 thousand in the third stage. An outlay of ₹70 lakhs was made for this scheme of which an amount of ₹57 lakhs was utilised by Palghar Nagarparishad.
