Centre on Friday here launched an Online Dashboard for the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) through video conference.
Speaking after launching the online dashboard here in New Delhi today, Secretary of Housing and Urban Affairs Durga Shanker Mishra said that the dashboard is dynamic, interactive and would provide a one-stop solution to all stakeholders looking for information and tracking monitoring of the progress of PM SVANidhi up to city level.
Since the commencement of online submission of applications on PM SVANidhi portal on July 2, 2020, more than 7.15 lakh applications have been received and over 1.70 lakh have been sanctioned in different States and Union Territories, he said.
PM SVANidhi was launched by the Ministry on June 01, 2020, for providing affordable working capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown. This scheme targets to benefit over 50 lakh Street Vendors who had been vending on or before March 24, 2020, in urban areas including those from surrounding peri-urban and rural areas.
Under the Scheme, Misra said the vendors can avail a working capital loan of up to Rs.10,000, which is repayable in monthly instalments in the tenure of one year. On timely and early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on a quarterly basis. “There will be no penalty on early repayment of loan”, he stated.
The scheme promotes digital transactions through cash-back incentives up to an amount of Rs. 100 per month. The vendors can achieve their ambition of going up the economic ladder by availing the facility of enhancement of the credit limit on timely and early repayment of the loan, he said.