Govt Scheme: The government had started the ‘PM Street Vendors Self-Reliant Fund’ in the year 2020 under the Pradhan Mantri Swanidhi Yojana to provide financial help to the street vendors of urban areas.
Modi Govt Scheme: Various schemes are run by the Modi government of the Center for different people. From students to farmers are taking advantage of these government schemes. If a street vendor is in need of money, he can take money by applying under this scheme. The government had started the ‘PM Street Vendors Self-Reliant Fund’ in the year 2020 under the Pradhan Mantri Swanidhi Yojana to provide financial help to the street vendors of urban areas.
The scheme was extended till December 2024,
earlier this scheme was till 2022. But now the government has extended it till December 2024. Yes, now the facility of giving third loan of 50 thousand rupees is being started by the government. Under this scheme of the Center, the street vendors are being given loans under minor paper work. On the basis of fixed standards, subsidy is also given on loan in this scheme. Now applications can be made till December 2024 under the ‘PM Street Vendors Self-Reliant Fund’ scheme.
Loan of 10 thousand, 20 thousand and 50 thousand
Under the central government scheme, the first loan will be given for 10 thousand, second 20 thousand and third loan for 50 thousand rupees. On approval of the application in the scheme, the loan amount is given to the applicant on behalf of Commercial Bank, Rural Bank, Small Finance Bank, Co-operative Bank, NBFC etc. In this, the government gives a collateral free loan of Rs 10,000 to the street vendors for one year.
So, apart from the annual subsidy of 7 percent,
street vendors can also take loans of Rs 20,000 and now Rs 50,000. The special thing in this is that nothing has to be given as a guarantee to take the loan. Repayment of loan in EMI is available. If you make the payment on time, you also get an annual subsidy of 7 percent.
What is the plan
Under the PM Swanidhi scheme launched by the central government in July 2020, there is a rule to give 30 days salary loan. To apply in this scheme, your mobile number must be linked to Aadhaar. You can apply under the scheme through pmsvanidhi.mohua.org.in or mobile app. Apart from this, it is also necessary to have KYC documents with you. Under the scheme, street vendors, fruit-vegetable vendors, laundries, salons, paan shops and hawkers etc. can apply.