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Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi Scheme (PM SVANidhi)

A Special Micro-credit facility for street vendors

Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi Scheme (PM SVANidhi) was launched on 1st June, 2020, by the Ministry of Housing and Urban Affairs to facilitate street vendors to access affordable working capital loan for resuming their livelihoods activities, after easing of lockdown.

Objective

The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the following objectives:
  • To facilitate working capital loan up to Rs.10,000;
  • To incentivize regular repayment; and
  • To reward digital transactions

The scheme will help formalize the street vendors with above objectives and will open up new opportunities to this sector to move up the economic ladder.

Eligibility

The Scheme is available to all street vendors engaged in vending in urban areas as on or before March 24, 2020. Those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. The eligible vendors will be identified as per following criteria:

  • Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs)
  • The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card


Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month.

  • Street Vendors, left out of the ULB-led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
  • The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.
*Application category: A - SV with COV/ID & SRN, B - SV with SRN, C1 & D1 - SV with LOR , C2 & D2 - SV without- LOR, D1 & D2 - SV from peri urban/surrounding areas

Brief Details of the Product

Urban street vendors will be eligible to avail a Working Capital (WC) loan of up to Rs.10,000 with tenure of 1 year and repaid in monthly instalments. For this loan, no collateral will be taken by the lending institutions. On time or early repayment, the vendors will be eligible for the next cycle of working capital loan with an enhanced limit. No prepayment penalty will be charged from the vendors for repayment before the scheduled date.

Rate of Interest

In case of Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks & SHG Banks, the rates will be as per their prevailing rates of interest. In case of NBFC, NBFC-MFIs etc., interest rates will be as per RBI guidelines for respective lender category. In respect of MFIs (non NBFC) & other lender categories not covered under the RBI guidelines, interest rates under the scheme would be applicable as per the extent RBI guidelines for NBFC-MFIs.

Loan Repayment

The vendors, availing loan under the scheme, are eligible to get an interest subsidy @ 7%. The interest subsidy amount will be credited into the borrower’s account quarterly. Lenders will submit quarterly claims for interest subsidy for quarters ending as on June 30, September 30, December 31 and March 31 during each financial year. Subsidy will only be considered in respect of accounts of borrowers, which are Standard (non-NPA as per extant RBI guidelines) on respective claim dates and only for those months during which the account has remained Standard in the concerned quarter. The interest subsidy is available up to March 31, 2022. The subsidy will be available on first and subsequent enhanced loans up to that date.

Rewards



For more details click on this link: Guidelines - PM-SVANidhi

How to apply and avail PM SVANidhi Loan Benefits

Necessary documents for online application:
  1. Aadhar Number
  2. Aadhar linked Mobile Number
  3. Aadhar linked Bank Account with IFSC
Registration process
Loan application filling process
  1. Interested applicants start registration through the link:
    https://pmsvanidhi.mohua.gov.in/Login
  2. Application Filling process mannual
  3. User manual for applying Letter of Recommendation (LoR) by Street Vendors

New Initatives Under PMSVANidhi

  • Under this training of PMS beneficiaries in digital received through QR Code and Pay through Payment APP by conducting a Penny Drop Transition of Rupees1 was conducted by lending institute/Payment aggregators.
  • To educate the Street Vendors for timely repayment of loan EMIs in order to be eligible for next higher tranche of loan.
  • 'Mai Bhi Digital' was launched in all ULBs from 4th Jan 2021.

"SVANidhi se Samriddhi"

PM SVANidhi Beneficiaries and their Families

Socio-Economic


Background

COVID-19 pandemic has adversely impacted the livelihoods of street vendors. Keeping this in view, the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) - a Central Sector Scheme was launched by the Ministry of Housing and Urban Affairs, on June 1, 2020 to facilitate special micro-credit for working capital to street vendors, through Lending Institutions, for facilitating resumption of their livelihoods.

As envisioned by the Hon’ble Prime Minister, PM SVANidhi scheme should not to be seen from the perspective of extending only loans to street vendors, but should also be seen as an instrument for outreach to street vendors and their families’ for their holistic development and socio-economic upliftment. Therefore, it is felt appropriate to link PM SVANidhi beneficiaries and their families, as per their respective eligibilities, to the existing welfare schemes of the Government of India, designed as safety nets to protect the poor from the socioeconomic risks and insecurities of life and livelihoods. This exercise is being undertaken under the overall ambit of PM SVANidhi Scheme2.

Objective

The programme would map the socioeconomic profile of the PM SVANidhi beneficiaries and their families, assess their potential eligibility for various Central welfare schemes and facilitate the linkages to these schemes. The socio-economic profiling will also help States, if they deem fit, to extend their State-specific welfare schemes & benefits, to the eligible PM SVANidhi beneficiaries and their families.

Key features

Socio-economic profiling programme:

  1. The profiling of all the beneficiaries of PM SVANidhi will be profiled along with their families.
  2. Socio-Economic upliftment of street vendors and their holistic development along with their families.
  3. The profiling exercise would assess their potential eligibility for various Central Welfare Schemes.
Coverage

The programme will cover the beneficiaries and their family members in 3 cities in Jharkhand i.e., Ranchi , Dhanbad and Jamshedpur for saturation in first phase up to the duration of PM SVANidhi scheme i.e. March 2022.

Areas of Socio-economic profiling Socio Economic profiling of the PM SVANidhi beneficiaries and their families will focus on collecting information/ data in respect of:

  1. Housing and other assets,
  2. Health coverage and disability status,
  3. Education, Skills and Employment,
  4. Women and Child Welfare,

Areas of Socio-economic profiling Socio Economic profiling of the PM SVANidhi beneficiaries and their families will focus on collecting information/ data in respect of:

  1. Housing and other assets
  2. Health coverage and disability status,
  3. Education, Skills and Employment,
  4. Women and Child Welfare,
  5. Banking and Insurance,
  6. Migration status,
  7. Occupational Category of family members,
  8. Aspirational Mapping, and
  9. Any other relevant area.

The key purposes of the socio-economic profiling are –
  1. Access mapping w.r.t eligibility for Central Schemes (List of selected Schemes for the program:
    2. Socio-Economic

  2. Creation of baseline data for PM SVANidhi beneficiaries.
  3. Eligible data collected will be converge with the set programmes.
List of National, State and City Level Nodal Officers- Click Here

Swiggy


Ministry of Housing & Urban Affairs (MoHUA) is implementing the drive SVANidhi scheme for providing affordable collateral free loan to Street Vendors whose businesses have been affected due to the ongoing pandemic. The Covid-19 pandemic has placed many restrictions on people living in the cities and they are increasingly opting for home delivery of services including food. It has not only affected the businesses of Street Food Vendors but also offered new opportunities for doing their business in a different manner.

ln this context, MoHUA has signed an MoU with Swiggy, on 5th October 2020, to provide street Food Vendors a digital platform, for receiving orders and logistic at support for delivery of food items. ln this regard, a pilot. was conducted successfully in 3 cities in Jharkhand transacting through swiggy.

Street vendors would have do the following for on boarding on Swiggy App:

S.No. Item/Activity Description Cost in Rs.
1. Basic onboarding/orientation & KYC (including service charges for online processing of PAN & fssai) 300
2. Menu digitization & Cataloguing 100
3. Training of the Vendor on partner app usage 100
4. PAN Registration Fee 107
5. fssai Registration Fee 100
Total 707
On successful onboarding of Me street vendor on Swiggy, MoHUA will pay Rs 607 (exclusive of applicable taxes) per vendor to Swiggy and Rs 100 shall be collected by the for Agency from the Vendor towards fssai registration.

S.No. Circulars of different banks Details
1 Circular issued by UCO Bank regarding 'Mai Bhi Digital Campaign'. View
2 Circular issued by Canara Bank regarding 'Mai Bhi Digital Campaign'. View
3 Circular issued by Baroda Rajasthan Kshetriya Gramin Bank regarding 'Mai Bhi Digital Campaign' View
4 Circular issued by Baroda UP Bank regarding 'Mai Bhi Digital Campaign'. View
5 Circular issued by Bank of India regarding 'Mai Bhi Digital Campaign'. View
6 Circular issued by Indian Overseas Bank regarding 'Mai Bhi Digital Campaign' View
7 Circular issued by State Bank of India regarding 'Mai Bhi Digital Campaign'. View
8 Circular issued by Punjab National Bank regarding 'Mai Bhi Digital Campaign'. View
9 Circular issued by Union Bank regarding 'Mai Bhi Digital Campaign'. View
10 Circular issued by Central Bank of India regarding 'Mai Bhi Digital Campaign View
11 Circular issued by IDBI Bank regarding 'Mai Bhi Digital Campaign'. View
12 Circular issued by Nainital Bank regarding 'Mai Bhi Digital Campaign View
S.No. Public Sector Bank Details
1 Bank of Baroda View
2 Bank of India View
3 Bank of Maharashtra View
4 Central Bank of India View
5 Canara Bank View
6 Indian Overseas Bank View
7 Indian Bank View
8 Punjab National Bank View
9 Punjab & Sind Bank View
10 State Bank of India View
11 UCO Bank View
12 Union bank of India View
S.No. Private Sector Bank Details
1 ICICI Bank View
2 IDBI Bank View
3 Jammu & Kashmir Bank View
4 Axis Bank View
5 Karnataka Bank View
6 City Union Bank View
7 Kotak Mahindra Bank View
8 YES Bank View
9 RBL Bank View
10 Karur Vysya Bank View
11 HDFC Bank View
S.No. Small Finance Bank Details
1 Utkarsh Small Finance Bank View
2 Suryoday Small Finance Bank View
3 North East Small Finance Bank View
4 Jana Small Finance Bank View
5 ESAF Small Finance Bank View
6 Fincare Small Finance Bank View
S.No. Title Detail
1 SOP of Credit Guarantee Scheme for PM SVANidhi View
2 SOP on Credit Guarantee View
3 PM SVANidhi Application Filling Procedure View
4 User Manual for LoR View