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Progress of Pradhan Mantri Street Vendor Aatma Nirbhar Nidhi (PM-SVANidhi) Scheme : Loksabha Q&A

Progress of PRADHAN MANTRI SVANidhi SCHEME


Question raised in Loksabha and Details of Answer which is given by the Minister of Housing & Urban Affairs:- 

a) whether the Government has launched Pradhan Mantri AtmaNirbhar Nidhi (PM SVANidhi) Scheme recently, if so, the details and its aims and objectives thereof;
b) whether the Government has signed any Memorandum of Understanding with financial institutions to implement the scheme and if so, the details thereof;
c) the details of the criteria fixed by the Government for availing benefits of this scheme along with the number of street vendors who have applied and sanctioned amount under the scheme, State-wise;
d) the other steps taken/being taken by the Government to help vendors to kick-start activity who have been left without any income due to the impact of Covid-19 and lockdown?


Prime-Minister-Scheme

Here is the full text of English Version:-

GOVERNMENT OF INDIA
MINISTRY OF HOUSING AND URBAN AFFAIRS
LOK SABHA

UNSTARRED QUESTION NO: 857
ANSWERED ON: 17.09.2020

PM SVANidhi Scheme

DNV Senthilkumar. S.
Supriya Sadanand Sule
Manickam Tagore B
Subhash Ramrao Bhamre
Kuldeep Rai Sharma
Amol Ramsing Kolhe

Will the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:-

a) whether the Government has launched Pradhan Mantri AtmaNirbhar Nidhi (PM SVANidhi) Scheme recently, if so, the details and its aims and objectives thereof;

b) whether the Government has signed any Memorandum of Understanding with financial institutions to implement the scheme and if so, the details thereof;

c) the details of the criteria fixed by the Government for availing benefits of this scheme along with the number of street vendors who have applied and sanctioned amount under the scheme, State-wise;

d) the other steps taken/being taken by the Government to help vendors to kick-start activity who have been left without any income due to the impact of Covid-19 and lockdown?

ANSWER

(a): Ministry of Housing and Urban Affairs has, on June 01, 2020, launched Prime Minister Street Vendor’s Amta Nirbhar Nidhi Scheme (PM SVANidhi). It aims at facilitating collateral free working capital loans upto Rs 10,000 of 1 year tenure, to about 50 lakh street vendors across the country. It also provides for incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan and cash-back upto Rs. 100 per month on undertaking prescribed digital transactions. Further, on timely or early repayment, the vendors will be eligible for the next cycle of working capital loan with an enhanced limit. For the purpose of scheme administration, an end-to-end solution through an IT platform has been developed in collaboration with Small Industries Development Bank of India (SIDBI). The loan processing under the Scheme has commenced on July 02, 2020.

(b): A Memorandum of Understanding with SIDBI, the Implementation Agency has been signed on June 19, 2020. A graded guarantee cover has been provided, on portfolio basis, to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to encourage lending to street vendors.

(c): The PM SVANidhi scheme is available for beneficiaries belonging to States / Union Territories which have notified Rules and Scheme under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. Meghalaya has its own State Street Vendors Act and is eligible to participate in the Scheme. Further, the Street Vendors Act, 2014 is yet to be extended to UTs of Jammu & Kashmir and Ladakh. However, as a special case, the street vendors from these two UTs have been allowed to avail the benefits. The vendors who have been vending on or before March 24,2020 in urban areas,including those from the surrounding development/ peri-urban/ rural areas, are eligible. A statement giving state-wise details of applications received and amount sanctioned is at Annexure.

(d): The other steps taken include launching of a dedicated mobile App for lending institutions and Urban Local Body officials, a digital module for Letter of Recommendation and integration of Common Service Centers with the application process. The Scheme targets to help build the credit profile of the street vendors through onboarding on digital payment platforms for integrating them into the formal urban economy.

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