PM SVANidhi fostering entrepreneurship and stability among street vendors since three years: Hardeep Puri
PM SVANidhi
fostering entrepreneurship and stability among street vendors since three years:
Hardeep Puri
MoHUA celebrates three successful years of PM
SVANidhi Scheme
Hardeep S
Puri, Minister for Housing and Urban Affairs and Petroleum and Natural Gas
complimented the Prime Minster Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)
Scheme on its successful completion of three momentous years. The Minister
stated that PM SVANidhi Yojana is witnessing one of the fastest roll-outs of
government schemes. He further stated that PM SVANidhi has led an unparalleled
wave of financial inclusion and digital literacy in India’s cities and towns
that has provided dignity and stability to Street Vendors.
PM SVANidhi Scheme launched on 1 June, 2020, aiming to
restore Swarozgar, Svavlamban,
Swabhimaan (Self Employment, Self-Sustenance, and Self-Confidence)
within street vendors has become one of the fastest growing micro-credit
schemes of the Government of India and has provided its citizens access to
credit and linkages to social security schemes.
The Ministry of Housing and Urban Affairs (MoHUA)
organised an event at Vigyan Bhawan to celebrate 3 years journey of PM Street
Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Yojana, here today. The scheme has
empowered COVID-19 affected street vendors to resume their livelihood. Not just
that, it has achieved various milestones in financial inclusion and mainstreaming
of street vendors were highlighted. This scheme, launched amidst the pandemic,
has made significant contributions to the lives of street vendors across the
country.
During the event, a booklet highlighting the noteworthy
achievements and initiatives implemented under the PM SVANidhi scheme was
released. The booklet provides insights into the various initiatives and
reforms undertaken by the scheme to transform the lives of street vendors and
their families throughout the country. The event was attended by Manoj Joshi,
Secretary, MoHUA, Rajeev Jain, Additional DG, PIB, Rahul Kapoor, Joint
Secretary & Mission Director and senior officials from Central Government,
State Governments, Banks, Digital Payment Aggregators, key partners and the PM
SVANidhi beneficiary Street Vendors.
In addition, the Minister launched a PM SVANidhi mobile
app for street vendors, to ease the loan application process and provide
various information to Street Vendors regarding the Scheme. Moreover, a
facility for ‘Udyam’ registration and obtaining ‘Udyam Assist’ certificate for
Street Vendors on PM SVANidhi portal was also launched with the help of
Ministry of Small and Medium enterprises, MSME, to provide easy access to
vendors for obtaining Udyam Registration Certificate for promotion of their
business.
Further, States and lending Institutions which have shown
good performance under the Scheme were also felicitated for their valuable
contribution towards empowering the street vendors. Amongst the banks, State
Bank of India, Bank of Baroda, and Union Bank of India were felicitated for
offering large number of loans to street vendors. Amongst RRBs Andhra Pradesh
Grameen Vikas Bank, and from State Cooperative banks Stree Nidhi Credit
Cooperative Federation Ltd. were felicitated.
Hardeep S Puri, Minister, MoHUA
also interacted with beneficiary Street Vendors of PM SVANidhi scheme and was
apprised with the changes which the scheme has brought in their lives. He
expressed his gratitude to all the stakeholders, including Central Ministries
and State Governments, Urban Local Bodies, Lending Institutions, and partners
for their enormous support and contribution to the success of the scheme.
PM SVANidhi scheme has achieved significant milestones
over the past three years. The scheme facilitates working capital loans in
three tranches to the Street Vendors. It has been providing microcredits to
more than 36 lakh Street Vendors across India. As on June 30, 2023, 48.5 lakh
loan applications have been sanctioned, with over 46.4 lakh loans disbursed to
street vendors, amounting to a total of Rs 5,795 crore. Digital on boarding and
training have been a key component of the scheme and the Ministry is taking
various efforts training all PM SVANidhi beneficiaries in making digital
transactions and thus
providing them social acceptance and dignity.