PM Street Vendor's Atma Nirbhar Nidhi (PM SVANIDHI) Scheme

Quick facts

• Purpose: To facilitate collateral-free working capital loans to street vendors to restart their businesses.
• Type: Central Sector Scheme
• Beneficiary: Street vendors/ hawkers vending in urban areas and surrounding peri-urban and rural areas.
• Implementing Agency: Small Industries Development Bank of India (SIDBI).

Objectives

• Facilitate collateral free working capital loan up to ₹10,000, of 1 year tenure, with enhanced loan of ₹20,000 and ₹50,000 in the second and third tranches respectively, on repayments of earlier loans. 
• To incentivize regular repayment and to reward digital transactions.

Salient features

Background: Launched in 2020 to support urban street vendors hit by COVID-19. Responsibility of States/ULBs: Identification of Beneficiaries'.  Criteria for Identification of eligible vendors:  Street vendors with a Certificate of Vending/Identity Card issued by ULBs.  Vendors identified in surveys but do not have a Certificate of Vending/Identity Card. Vendors omitted from ULB-led surveys or those who started vending after the survey, with a Letter of Recommendation (LoR) from ULB/Town Vending Committee (TVC). Vendors from surrounding development/peri-urban/rural areas vending within ULB limits, with an LoR from ULB/TVC. Eligibility for state/UTs: States/UTs must have notified Rules under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.  Credit Guarantee: Provision for Graded Guarantee Cover for the loans sanctioned. It is administered by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).