New Delhi, Aug 12 (UNI) The number of loan sanctions and number of applications received under PM Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) scheme have crossed the mark of 1 lakh and 5 lakhs respectively within 41 days of commencement of the lending process on July 2, the Ministry of Housing & Urban Affairs said here on Wednesday.
'The PM SVANidhi scheme has generated considerable enthusiasm among the street vendors, who have been looking for access to affordable working capital credit for re-starting their businesses post COVID-19 lockdown,' the Ministry said in a statement.
The PM SVANidhi Scheme was launched by Ministry of Housing & Urban Affairs under the ambit of ‘Atma Nirbhar Bharat Abhiyan’. It aims at facilitating collateral free working capital loans upto Rs 10,000 of 1 year tenure, to about 50 lakh street vendors in the urban areas, including those from the surrounding peri-urban/ rural areas, to resume their businesses post COVID-19 lockdown.