SVANidhi Yojana Apply | Street Vendor AatmNirbhar fund online application | Self funding scheme application form
Recently the Prime Minister of India Mr Narendra Modi announced to start a new scheme soon. He gives this announcement at the Union Cabinet meeting held in 1st June 2020. Under this scheme, the government will provide some loan to the small and medium street vendors to start their work again. Due to the lockdown, they had lost many of their business, so the government has launched this loan scheme. Under this scheme the vendor owners will get a loan of Rs.10, 000 for one time. This great scheme is also known as Pradhan Mantri Atma Nirbhar Fund.
In this article, we will share all the information related to this scheme.
We will share with all the important aspects such as objectives, benefits, eligibility criteria, documents required, application procedure and so on.
Do follow this article till the end to grab all the information easily.
- 1 About SVANidhi Yojana
- 1.1 Some Highlighted Points of SVANidhi Yojana 2020
- 1.2 Objective of Street Vendor Atma nirbhar SVANidhi Scheme
- 1.3 Benefits of Self Financing Scheme (SwaNidhi Yojana)
- 1.4 Beneficiaries under PM SVANidhi Yojana
- 1.5 How to Apply for SVANidhi Scheme 2020?
- 2 Other Important Announcement made by the Cabinet Meeting
- 3 Frequently Asked Questions (FAQs)
About SVANidhi Yojana
All the state vendors of India both in Rural and Urban areas, who are selling different types of fruits, vegetables can get this benefit. The small hawker’s shops will also get the benefits under this SVANidhi Scheme. The will get a loan of amount Rs.10, 000/- by the central government. They must return the whole money by instalments within one year on time
Especially, seven per cent of the annual interest subsidy will be given by the government if the beneficiaries will pay the loan on time.
All the interested beneficiaries who are running small vendors at the roadside should apply for this scheme to grab the benefit and restart their business.
According to the government report, more than 50 lakh people will get the benefit of this small vendor loan scheme including small vendors, handlers, hawkers, fruit sellers etc. This scheme will really help the small vendor owners to boost their profit after having a great loss in COVID 19 lockdown situation.
As this Government enters its second year, the Cabinet took important decisions that will have a transformative impact on the MSME sector, our hardworking farmers and street vendors. Today’s decisions will ensure a better quality of life for them. https://t.co/5QtQL2djtT— Narendra Modi (@narendramodi) June 1, 2020
Some Highlighted Points of SVANidhi Yojana 2020
|Name of the Scheme||SVANidhi Scheme|
|Launched By||Indian Government|
|Beneficiaries||The Street Vendors|
|Objective||To Provide Financial Incentive|
|Official Website||Updating Soon|
Objective of Street Vendor Atma nirbhar SVANidhi Scheme
We all are known that the whole world is now suffering from the Corona Virus. Even India is also badly suffering from this disease until today. To tackle this situation the central government implement lockdown across India, and now it also extends unto 30 June 2020.
As many of the small street vendors have a facing loss due to this situation, the Prime Minister of India on behalf of cabinet ministers comes up in front of them to help. As a help, the government will provide them with a simple loan of Rs. 10,000/- to each for the 1-year term. The government will also provide subsidy to those who will repay their loans on time. This initiative of the government will really improve the conditions of the street vendors.
Benefits of Self Financing Scheme (SwaNidhi Yojana)
- Only the street and roadside vendors will get the benefit of this scheme.
- The vendors who are selling fruits and vegetables on the street will get benefits under SVANidhi Scheme.
- The beneficiaries will get a loan of Rs. 10,000/- for 1-year tenure, which they should return through monthly instalments.
- More than 50 lakh people of the state will get the benefits under this central scheme.
- The government will provide 7% of subsidy to some vendors who are paying their loan instalments on time.
- The government didn’t mention about any late fine for this scheme.
- This scheme will help the street vendors to restart their business and grow more. This scheme will make them successful within a short time.
- The interested people must apply for this scheme through both Online and Offline mode. For online mode, the applicants must follow the official website of PM Self-relief Fund Scheme. And for offline, the applicants should contact the nearest bank authority.
- Through this initiative, the beneficiaries can boot their business income after lockdown.
Beneficiaries under PM SVANidhi Yojana
- Artesian Products Shops
- Barber Shops
- Bread & Egg Sellers (Street)
- Fruit Sellers
- Laundry Shops
- Pan Shops
- Shoe Bunches
- Small Stationeries
- Street Fast Food Stalls
- Tea Cart
- Vegetable Sellers
How to Apply for SVANidhi Scheme 2020?
All the interested beneficiaries who wanted to apply for this scheme can apply through both online and offline method. But you have to wait a few days to start. As the scheme has recently announced, so, the officials didn’t announce any notification for online application. We will update here everything after getting the official notification by the government.
For online apply, the applicant should visit the official website that will be published soon.
And for the offline method, the applicants should visit the nearest banks and ask the authority about this scheme. They will provide you with an application form. You must fill the form and submit it with your documents. Offline process is also providing soon.
Other Important Announcement made by the Cabinet Meeting
- The cabinet has approval for the equity scheme for the MSME sector and gives the benefits to small and medium industries, also the government will create employment opportunities. The government has announced 50,000 crore Rupees for this purpose.
- All the interests of the agricultural loan will be reduced until 31 August.
- Barbershops, pan shops will get different benefits also.
Frequently Asked Questions (FAQs)
Who will get the main benefit of the SVANidhi Scheme?
All the main benefits of this scheme will be given to the small street vendors including small street shops, vegetable shops, fruit shops etc.
What is the main benefit of this SVANidhi Scheme?
The main aim of this scheme is to boost the income of small street vendors. The government will provide a loan of Rs. 10,000/- to then for a 1-year tenure.
The scheme which is launched for the street vendors is known as what?
The scheme is known as PM SVANidhi Scheme.
Who will get benefit under PM SVANidhi Yojana 2020?
All the street vendors will get benefit from this scheme. They will get a special loan of Rs. 10,000/- with a low-interest rate.
Hey dears, if you have any queries regarding this PM SVANidhi Scheme 2020, then kindly ask us by commenting on the comment section.