PM SVANidhi Scheme Apply – Get Loan 10000 | The Ministry of Housing and Urban Affairs launched the PM SVANidhi scheme on 1 June 2020, which aims to provide appropriate working capital loans to the lanes so that their livelihood can be affected again due to coronovirus lockdown.
The launch event was organized through a video conference which was attended by senior officials of the ministry, principal secretaries of the Urban Development Department and several other officials from the states and union territories.
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PM SVANidhi Scheme Apply – Get Loan 10000 | The scheme aims to benefit 5 million street vendors who were vending in urban areas of the peri-urban / rural areas on or before March 24, 2020.
Under this government scheme, sellers can take a working capital loan of up to Rs. 10,000 is payable in monthly installments over a tenure of 1 year. On timely or early repayment of the loan, interest subsidy @ 7 percent per year will be deposited directly into the bank accounts of the beneficiaries through benefit transfer. Apart from this, there will be no penalty for early repayment of loan. PM SVANidhi promotes digital transactions through cash back incentives up to an amount of Rs. 100 / month.
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