Street vendors can get collateral free working capital loans of up to ₹10,000

The PM SVANidhi Scheme was launched by Ministry of Housing & Urban Affairs under the ambit of ‘AtmaNirbhar Bharat Abhiyan’.
It aims at facilitating collateral free working capital loans upto 10,000 of 1 year tenure, to about 50 lakh street vendors in the urban areas, including those from the surrounding peri-urban/ rural areas, to resume their businesses post COVID-19 lockdown.

Incentives in the form of interest subsidy at 7% per annum on regular repayment of loan, cashback upto 1,200 per annum on undertaking prescribed digital transactions and eligibility for enhanced next tranche of loan have also been provided.

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