Outlook Money
PM SVANidhi provides a financial safety net for street vendors and hawkers.
It is a centrally sponsored scheme funded by the Ministry of Housing and Urban Affairs to provide credit facilities to street vendors.
PM SAVNidhi offers subsidised loans for street vendors and hawkers.
This schemes promotes and encourages local vendors by providing them financial facilities such as credit.
Interest rates are applied as per the RBI standards.
The scheme is restricted to states and union territories (UT) with notified rules under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014, and Meghalaya.
Vendors with vending license such as certificate or a letter of recommendation from the Urban Local Bodies (ULBs) can avail the scheme.
Compiled By Himani Verma