PM SVANidhi Scheme Completes Six Years of Empowering Street Vendors
The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme completed six years of operation. Launched to support street vendors affected by the pandemic, it offers affordable, collateral-free working-capital loans in progressive tranches, along with incentives for digital transactions and access to social-security benefits. The scheme is implemented by the Ministry of Housing and Urban Affairs (MoHUA).
Key Facts & Details
7 points- 1PM SVANidhi completed six years
- 2Provides collateral-free working-capital loans to street vendors
- 3Loans disbursed in progressive tranches with digital-transaction incentives
- 4Implemented by the Ministry of Housing and Urban Affairs (MoHUA)
Deep Dive
- +PM SVANidhi = PM Street Vendor's AtmaNirbhar Nidhi, launched in June 2020.
- +It links beneficiaries to other welfare schemes for social security, and rewards timely repayment with higher loan limits.
- +Digital onboarding of vendors promotes financial inclusion and a cashless economy.
Exam Focus
Note the full form (PM Street Vendor's AtmaNirbhar Nidhi), the beneficiary group (street vendors), and the ministry (MoHUA).
Related Topics
Exam Relevance & Angle
Financial-inclusion and welfare schemes are a core current-affairs and banking-awareness theme.
Target Exams
Background & Context
PM SVANidhi was introduced to give micro-credit to urban street vendors and bring them into the formal financial system.
Related GK Concepts
Must KnowTest Yourself
1 / 1PM SVANidhi, which completed six years, provides what kind of support to street vendors?
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