PM SVANidhi Scheme Beneficiaries Meet Union Minister Puri

Union Minister Hardeep Singh Puri engaged with beneficiaries of the PM Street Vendor’s Atmanirbhar Nidhi scheme in Chandigarh, seeking feedback on any challenges they may be encountering.

The Ministry of Housing & Urban Affairs introduced the PM Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) scheme, designed to support street vendors by providing them with loans to enhance their self-reliance.

The PM Street Vendor’s Atmanirbhar Nidhi offers collateral-free working capital loans of up to INR 10,000 for a year to around 50 lakh street vendors, aiding them in restarting businesses in urban, peri-urban, or rural areas. It was launched during India’s COVID crisis to support small vendors whose daily earnings were affected.

Several vendors, including two from Chandigarh, were advantaged by this program. Housing and Affairs Minister Hardeep Singh Puri met these vendors.

Puri said “The SVANidhi scheme was initiated during the COVID pandemic to address the challenges faced by numerous individuals. Prime Minister Modi recognized the hardships encountered by small vendors, who often struggled amidst the crisis while others received regular salaries. This scheme is like a microfinance scheme, which has even made them entrepreneurs. Around 55-60 lakh vendors have received the benefits of this scheme.”

Both vendors expressed their appreciation and thanked the Prime Minister for providing support during the COVID-19 pandemic, which aided them in overcoming considerable obstacles and reconstructing their livelihoods.

“I’ve been operating this shop for 12 years. Initially, I received 10,000 through SVANidhi, followed by a 20,000 loan, and then 50,000 later. I’m grateful for this support and hope it continues,” shared Mona, a beneficiary of the scheme and a member of the transgender community who manages a local tea shop

They noted that they initially received a loan of Rs10,000, followed by a Rs20,000 loan, and they have now applied for a Rs50,000 loan, anticipating its approval shortly. They conveyed their heartfelt gratitude to the Prime Minister for simplifying their lives through these initiatives.