Pradhanmantri Swanidhi Yojana | Svanidhi Yojana Online Application 2021 | प्रधानमंत्री स्वनिधि योजना ऑनलाइन आवेदन 2021 | Pradhan Mantri Swanidhi Scheme | PM Swanidhi Registration 2021
Learn How to Register in PM SVANIDHI Yojana (PM Street Vendor Atmanirbhar Nidhi) | Street Vendor Atmanirbhar Scheme, Self Fund Scheme, PM Sannidhi yojana apply online
The Central Government has started the Prime Minister Street Vendor Self-Reliant Fund (PM Svanidhi Yojana) on 1st June 2020. Under this Pradhan Mantri Svanidhi Yojana, the central government will provide short-term loans of up to Rs 10,000 to hawkers, hawkers, and Rehdi laborers, etc. This scheme was announced by Finance Minister Nirmala Sitharaman in the Rs 20 lakh crore self-reliant India campaign package. was. People can apply online by visiting the Pradhanmantri Svanidhi Yojana official website, if you are not able to apply online in the scheme by yourself, then you can also apply under the scheme by visiting your nearest CSC center.
Swanidhi Yojana 2021-22
The government has started the Pradhan Mantri Svanidhi Yojana to provide short-term loans up to Rs 10000 to 20k with this scheme street vendors will be able to resume their business without any delay. The government has named it as PM SVANidhi or PM Street Vendor Atmanirbhar Nidhi Scheme.
The main objective of PM Street Vendors Atmanirbhar Nidhi Yojana is to ensure that daily wage earners like vegetable vendors, fruit vendors continue to earn their livelihood. This short-term assistance of Rs 10,000 will enable the small street vendors who have been badly affected due to the Covid 19 lockdown to resume their work. Pradhan Mantri Swanidhi Yojana will provide the initial working capital required for the purchase of items for sale.
Pradhanmantri svanidhi yojana Highlights
|Scheme Name||Pradhanmantri Svanidhi Yojana|
|Launched By||PM Narendra Modi|
|Launch Date||13 May 2020|
|Scheme Guidelines||Click Here|
Who will get the benefit of Svanidhi Yojana
As per the initial data collected from the state governments, around 50 lakh street vendors will be benefitted from the PM Street Vendor Atmanirbhar (PM SVANIDHI) scheme. The central government will extend credit flow of Rs 5,000 crore to this sector. In addition, street vendors who use digital payments and timely repayments will be incentivized through monetary rewards.
Under this scheme of the government, each street vendor can take a loan of up to ₹ 10000. Daily laborers like street vendors, vegetable vendors, fruit vendors can return this loan in installments within 1 year. At present there is no provision of penalty in the scheme for not repaying the loan on time.
PM Swanidhi Scheme Features
Pradhan Mantri Svanidhi Yojana or PM Street Vendor Atmanirbhar Nidhi Scheme is a unique scheme in itself, so there are many features of this scheme, which people will be able to take advantage of very easily, so let’s know about these special features of the scheme:
- To take a loan under this scheme, people will not need any kind of guarantee.
- People will be given initial loan up to ₹ 10000 for 1 year
- Interest subsidy will also be provided to those who repay the loan on time.
- Cashback facility will also be provided on digital payment of loan
- Application can be made in the scheme through mobile app and web portal
- Fruit, vegetable vendors, daily laborers etc. will be able to establish their employment again by taking loans.
PM SVANIDHI Loan Interest Rate
There is a need to impose an interest cap for such loans, which need to be linked with the cost of funds. Ideally, it should be linked to the MCLR (marginal cost of funds based lending rate) rather than any particular rate fixed by the government. For the time being, the government has not yet provided information about the interest rate for the loans disbursed under the scheme. The government is expected to provide the lowest rate of interest to the people given under the scheme.
PM SVANidhi loan is repayable over a period of 1 year, in monthly installments. There is an interest subsidy of 7% on timely/early repayment .
PM SVANidhi Interest Subsidy
Sellers availing loan under this scheme are eligible to get interest subvention @ 7%. The amount of interest subsidy will be credited to the borrower’s account quarterly. Lenders will submit quarterly claims for interest subsidy during each financial year for the quarters ending June 30, September 30, December 31 and March 31.
The subsidy will be considered only in respect of accounts of those borrowers who are standard (as non-NPA as per extant RBI guidelines) on the respective claim dates and only during those months whose accounts remain standard in the respective quarter. Interest subsidy is available till March 31, 2022. The subsidy will be available on the loan extended before and after that date. In case of early payment, the admissible amount of subsidy will be deposited in one go.
Svanidhi Yojana Credit Guarantee
Loans under this scheme are likely to be under Mudra Yojana. Mudra loans are guaranteed by Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE). It is not easy to get claims for CGTMSE in case of default. Many questions are asked to settle the claims as well as view the loan appraisal report. So in case of NPAs, these loans will be a loss for the bankers.
PM SVANidhi Pre-Application Steps
If you are going to apply for taking benefits under Pradhanmantri svanidhi yojana then you should follow some guidelines of the scheme which are as follows:
1. Understand the Loan Application Requirement
Understand the information and documents required to fill the Loan Application Form (LAF) for the scheme. Keep all the information ready before starting the application process. So that you do not face any kind of problem while applying.
2. Make sure your mobile number is linked with your Aadhaar
To take advantage of pradhanmantri svanidhi yojana your mobile phone must be linked with your aadhaar number. This will be required for your eKYC/Aadhaar verification during the online application process. It will also help you to get recommendation letter from ULB (in case required). It will help you to get benefits in future under government welfare schemes.
3. Check your eligibility status as per scheme rules
You will be selected in any one of the four categories of street vendors released under the scheme. Check your status as per your category and documents/ information that you need to keep ready
To know the categories of the scheme click on the link given below https://pmsvanidhi.mohua.gov.in/Home/PreApplication
Once you have followed the above 3 steps you are ready to start the application process on the portal. You can apply yourself directly and also through a Common Service Center (CSC) near you.
Pradhan Mantri svanidhi yojana Apply Online
If any of you want to apply online in PM Street Vendor’s AtmaNirbhar Nidhi (PM Svanidhi) Yojana, then you can do it by visiting the Official Website.
- To apply, first go to pmsvanidhi.mohua.gov.in
- Click on Apply For Loan button available on the home page
- Now login by entering your mobile number
- After that fill the application form and submit the required documents along with the application
Note: If you want to see the complete process of registration, then check the PDF notification issued by the official website for this, you can click on the link given below Click Here
PM SVANidhi Scheme FAQ
PM Street Vendors Aatmanirbhar Nidhi is a special micro-credit facility scheme to provide affordable loans to street vendors. Under this scheme, 50 lakh street vendors who have done the vending on or before March 24, 2020, can take a loan of up to Rs 10,000.
Any person who works in offering goods, merchandise, food items, or daily use goods or services to the general public such as street vendors, vegetable vendors, fruit vendors, daily laborers, etc.
Providing working capital loans up to Rs.10,000 at a concessional rate of interest. The government will encourage regular repayment of loans and reward digital transactions.
This scheme was launched on 1 June 2020 under the Atmanirbhar Bharat Abhiyan Package Announcement.
The Ministry of Housing and Urban Affairs also launched this scheme in pursuance of the announcement made by Finance Minister Nirmala Sitharaman.