₹10,000 for Street Vendors! PM SVANidhi Yojana 2024 Phase 2 Launched

Kota, 4 January 2024: On the initiative of Lok Sabha Speaker Om Birla, once again street vendors working in retail PM SVANidhi Yojana 2024 Loans will be made available under. For this, both the Municipal Corporations of Kota and the urban bodies of Bundi district will organize application camps between January 7 and 15. In this, the facility of physical and online application will be made available on the spot.

Last year, on the initiative of Lok Sabha Speaker Om Birla, a huge loan distribution camp was organized at Dussehra grounds. In this, loans were provided to a large number of street vendors under the Swanidhi scheme. Street vendors got huge benefits from this. Most street vendors repay their loans from the profits earned after expanding their business. Many street vendors have also applied for loans of higher amounts.

Seeing this success of street vendors and with the aim of making more people benefit from this scheme, Speaker Birla held a meeting with officials of municipal corporations of Kota and civic bodies of Bundi district at the Lok Sabha Camp office on Tuesday evening. He told the officials to organize camps and get the applications filled. Complete all the formalities immediately and send them to the bank so that the street vendors can be benefited by getting the loan approved this month.

PM SVANidhi Yojana 2024 Highlights

name of the schemePradhan Mantri Swanidhi Yojana
Launched byIndian government
launch dateJune 2020
ObjectiveHelping street vendors become self-reliant
  • Loan up to Rs 10,000 without guarantee
  • no interest on loan
  • Digital payment incentive on timely payment
  • Opportunity to join the banking system
  • social and economic upliftment
beneficiaryStreet vendors vending in urban areas
official websitehttps://pmsvanidhi.mohua.gov.in/
how to apply?Contact your local municipal corporation or civic body, visit an application camp, or apply online
credit period1 Year (Repaid in 12 equal monthly installments)
  • Must be vending before March 24, 2020
  • Income should be less than Rs 3 lakh
  • no outstanding debts

PM SVANidhi Yojana 2024 online application facility

Both the municipal corporations of Kota and the urban bodies of Bundi will organize application camps between January 7 and 15. In this, the facility of physical and online application will be made available on the spot. To make the camps successful, cooperation of social workers will also be taken. In such a situation, any street vendor who wants to take a loan up to ₹ 10000 without any guarantee will have to participate in this camp and submit his application in the camp through offline and online.

Submit applications in camps also

Speaker Birla said that in whichever area camps are being organized under the Vikas Bharat Sankalp Yatra, there PM SVANidhi Yojana 2024 should be widely publicized. Encourage street vendors to apply for the camp also. Our effort should be to ensure that every street vendor is benefited from this.

What is Swanidhi Yojana?

PM SVANidhi Yojana 2024 There is a special micro-credit facility that provides loans to street vendors to restart or expand their livelihoods. This scheme was launched by the Central Government during the Covid-19 pandemic.

Under this scheme, 10,000 to street vendors Loans up to Rs. are given without any guarantee. The tenure of the loan is one year and it has to be repaid to the street vendor in the form of installments in 12 months.

Benefits of Swanidhi Scheme:

  • Street vendors are helped to restart or expand their livelihood.
  • Street vendors get the necessary financial support to expand their business.
  • Street vendors are helped to become self-reliant.

Street Vendors who are eligible for Swanidhi Scheme:

  • Street vendors who are vending in urban areas on or before March 24, 2020.
  • Street vendors whose income is less than Rs 3 lakh.
  • Street vendors who do not have any loans or whose existing loans are being paid on time.

Street vendors who wish to apply for Swanidhi Scheme can submit the following documents:

  • Aadhar card
  • Ration card
  • income certificate
  • address certificate
  • Bank account statement

Other benefits of Swanidhi Yojana:

  • No interest is charged on the loan.
  • Digital payment incentives are also given by the government on timely repayment of loan.
  • Helps in connecting street vendors with the banking system.
  • Street vendors lead to social and economic upliftment.

conclusion : PM SVANidhi Yojana 2024 It is not just a micro loan scheme but it helps a lot of street vendors in making them self-reliant and also they are given a loan without any interest which benefits them in every way, Pradhan Mantri Swanidhi Yojana by the Central Government. This is a very big scheme that has been started and crores of street vendors have benefited from it, you too can avail the benefits of this scheme by applying today and do tell us by commenting how you liked our article and also you can share this article with all the street vendors. Please share it with your brothers so that they can get maximum benefits.

FAQ Related To PM SVANidhi Yojana 2024

How can I apply for Swanidhi Scheme?

You can contact both the municipal corporations of Kota or any municipal body of Bundi district. You can also apply in the application camps to be organized between 7th to 15th January. Apart from this, you can also apply online.

How much loan can I get?

You can get a maximum loan of Rs 10,000. However, the loan amount will depend on the size of your business and your income proof.

What is the loan repayment period?

The loan tenure is one year and can be repaid in 12 equal monthly installments.

Will any kind of guarantee be required to take a loan?

No, no guarantee is required, but you will have to prove that you are an eligible street vendor.

What happens if I am not able to repay the loan on time?

If you are not able to repay the loan on time, you may have to pay a penalty. Your credit score may also be negatively affected.

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