In fact, the street vendors have been the most affected by the ‘lockdown’ imposed for the prevention of corona epidemic.
Public sector banks have accepted 95 percent of the total loans under PM Svanidhi Yojana. The Center had launched the Pradhan Mantri Street Vendor Atmanirbhar Nidhi (PM-Svanidhi) scheme on June 1 last year. The Department of Financial Services said through Twitter, “Public Sector Banks have given loans under PM Svanidhi Yojana. He has sanctioned 23,16,207 loans till May 31, 2021. This is 95 percent of the total loan sanctioned under this scheme. The department said that the total number of applications sanctioned under the scheme stood at 24.21 lakh.
In fact, the street vendors have been most affected by the ‘lockdown’ imposed for the prevention of corona epidemic, the purpose of this scheme is to give loans up to Rs 10,000 to the shopkeepers to resume their business. Under this scheme, a loan of Rs 10,000 is being given without any guarantee for one year. The scheme was started so that 50 lakh handcarts and horsemen could start their business.
Public Sector Banks at the forefront of #PMSVANidhi! have sanctioned 23,16,207 loans as on 31/05/2021, which is over 95% of total loans sanctioned under this scheme. Creating #AatmaNirbharVendors for an #AatmaNirbharBharat! @FinMinIndia @MoHUA_India @DebasishPanda87 pic.twitter.com/Kp8iAIBE6o
— DFS (@DFS_India) June 3, 2021
Let us tell you that in order to increase loan repayments and digital transactions, this loan is given at 7 percent interest annually along with subsidy. Along with this, cashback (up to Rs 1,200 annually) is also being given.
