PM SVANidhi scheme
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The document discusses the PM SVANidhi Scheme, which provides loans of up to Rs. 10,000 to street vendors and hawkers in India. The scheme aims to provide working capital to eligible individuals, including those who sell vegetables, fruits, ready-to-eat food, textiles or offer services like barber shops or laundry. Loans are provided at a subsidized interest rate of 7% and must be repaid in monthly installments over 1 year. Borrowers receiving cashback incentives for digital transactions and eligibility for higher subsequent loans if the initial loan is repaid on time.
PM SVANidhi scheme
- 1. Ready4compliance +91-7828556203 ready4compliance@gmail.com www.ready4compliance.blogspot.com PM SVANidhi Scheme Who are street vendors/hawkers? (Eligible person) Any person who works in: Vending of articles Good wares Food items or merchandise of daily use General public during a street, footpath, pavements o (either a temporary built-up structure) Supplied by them are vegetables, fruits, ready-to- eat street food, tea, pakodas, breads, eggs. Textile, artisan products, books/stationery etc. The services include barbershops, cobblers, pan-shops, laundry services etc. Objectives of the scheme: - The provide working Capital loan up to Rs. 10,000 at a subsidised rate of interest. - To incentivise the regular repayment of a loan - Reward digital transaction Salient features of the scheme: - Initial working capital – Rs. 10,000/- . - Monthly instalments – Tenures of 1 years - Interest subsidiary @7% on timely yearly repayment. - Digital transactions incentives of monthly cash back. - On timely repayment of the first loan there will be higher loan eligibility.