PM SVANidhi Yojana: This scheme of PM Modi will benefit the people living on the roads, now you will get loan without guarantee..

PM SVANidhi Yojana: The government has taken a big step to make the street vendors self-reliant. The Pradhan Mantri Street Vendors Atmanirbhar Nidhi Yojana (PM SVANidhi) has now been extended till 2030. This scheme was earlier limited to 31 December 2024, which has now been extended to 6 years.

This decision will directly benefit lakhs of small shopkeepers, handcart owners, and those who set up shops on the footpath. The special thing is that the government is giving loans to these people without any guarantee, so that they can take their business forward. Apart from this, the government is also giving many big benefits to these small shopkeepers under this scheme.

What is PM SVANidhi Yojana?
This scheme was started in the year 2020 after COVID-19, when the work of street vendors across the country was badly affected. Then the government had decided that loans would be given without guarantee to provide them with financial assistance. Initially, this loan was up to Rs 10,000; after repaying, the facility of taking a larger amount was also given.

What has been changed in the scheme now?

The central government has recently completely restructured this scheme, and now many big changes have been made in it. Let us tell you that these changes will be even more beneficial for the vendors. Under these changes, the loan amount has now been increased. The first loan will now be for 15 thousand, after this, the second loan will be 25,000, and the third loan will be 50,000.

The benefits of a credit card and cashback will be available.

Under this scheme, people who have taken a second loan will now get a UPI-linked RuPay credit card, so that they can use money immediately in an emergency. Along with this, the government will also give a cashback of up to Rs 1600 every month to the vendors on payment transactions through QR code to promote digital payment.

50 lakh people will join the scheme
The government has increased the budget of PM SVANidhi Yojana to Rs 7332 crore. Now, apart from lakhs of beneficiaries already associated with the scheme, 50 lakh new street vendors will also be included in it. After which, the total number of beneficiaries will increase to 1.15 crore.

Not only loans, but skills will also be available.
The government is not only giving loans under this scheme, but the beneficiaries will also be given training in entrepreneurship, financial literacy, and digital skills. Apart from this, through partnership with FSSAI, vendors will also be given information about standards related to cleanliness and food safety.

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