SVANIDHI SE SAMRIDDHI
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Context - The Union Government has launched the ‘SVANidhi se Samriddhi’ program in additional 126 cities across 14 States/ UTs.
Details
- ‘SVANidhi se Samriddhi’, is an additional program of PMSVANidhi, which was launched in 2021 under the Ministry of Housing and Urban Affairs.
- During Phase 1 of the program, it covered 125 cities, covering approximately 35 Lakh Street vendors and their families.
- Phase 2 of the program planning to cover additional 126 cities with an aim to support 28 Lakh Street vendors and their families.
- ‘SVANidhi se Samriddhi’ program was started to provide social security benefits to street vendors for their holistic development and socio-economic upliftment.
- PMSVANidhi beneficiaries and their families are also eligible for other welfare schemes;
- Pradhan Mantri Jeevan Jyoti Bima Yojana.
- PM Suraksha Bima Yojana.
- Pradhan Mantri Jan Dhan Yojana.
- Registration under Building and Other Constructions Workers (Regulation of Employment and Conditions of Service) Act (BOCW).
- Pradhan Mantri Shram Yogi Maandhan Yojana.
- National Food Security Act (NFSA) portability benefit – One Nation One Ration Card (ONORC).
- Janani Suraksha Yojana.
- Pradhan Mantri Matru Vandana Yojana (PMMVY).
- Quality Council of India (QCI) is the implementing partner for the programme.
About PM SVANidhi
- The Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs in June 2020
- The main objective of the scheme is to provide affordable Working Capital loans to street vendors to restart their livelihoods that have been adversely affected due to the Covid-19 lockdown.
- Vendors can avail of a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year.
- On timely/ early repayment of the loan, an interest subsidy at the rate of 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on a quarterly basis.
- There will be no penalty for early repayment of the loan.
- The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month.
- The vendors can avail of the facility of escalation of the credit limit on timely/ early repayment of loans.
- According to the scheme guidelines, a vendor is any person engaged in vending articles, goods, wares, food items or merchandise of daily use or offering services to the public in a street, footpath, pavement etc.,
- To avail of the loan, a vendor should: Possess a Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs).
- KYC document needed: Aadhar Card / Voter’s Identity Card / Driving Licence / MNREGA Card / PAN Card.