PM’s address at the interaction with PM SVANidhi Scheme beneficiaries of Uttar Pradesh
Speaker: Narendra Modi
Date: 27 Oct, 2020

Now when I was talking to all the beneficiaries of Pradhan Mantri SVANidhi Scheme, I found that everybody is happy as well as surprised. Earlier, salaried people also had to make rounds of banks for loan. The poor man and the street vendor could not even imagine going inside the bank. But today, banks themselves are coming to your doorsteps. Loan is available to start one’s business without any hassle. I am also very satisfied to see this happiness on all your faces. I wish you all a lot for your efforts, to move ahead with self-reliance and to take UP and the country forward. And when I was talking to all of you, I found that our sister Preeti, who is not very educated and lives in poverty, is also learning modern technology with so much self-confidence. She is taking care of her entire family while working to advance her business. Similarly, when I was talking to Arvind ji from Banaras, he said one thing which is a learning experience and I believe that all the educated people of the country will also learn. Whatever items that he makes, he gifts one of them free to the person who has followed the rules of social distancing. See, how much a small individual is doing. What can be a bigger inspiration than this? And when we were talking to Vijay Bahadur ji, who is a street vendor in Lucknow, his management model is such that he is promoting his business while saving time as well. See, this is the strength of our country. The country moves ahead with these people, the efforts of these people. Our street vendor friends are thanking the government for this and are expressing their gratitude to me. But I give its credit to all the banks and the efforts of the bank employees. Without the sense of service of the bank employees, this huge task could not be achieved in such a short span. I extend my heartiest congratulations to all the bank employees. Their enthusiasm to work grows manifold when they come across the sentiments of the poor. All the blessings of these poor people should be reserved for all those who have made painstaking efforts to rebuild your life. This is my desire that all your blessings and wishes should be with the bank employees. With this effort, the festivals have also been illuminated for the poor. This is a very big effort. Joining me in this function are Uttar Pradesh Chief Minister Yogi Adityanath ji, other ministers of the UP government, thousands of beneficiaries of SVANidhi Yojana from all the districts of UP, officials of all the banks and my dear brothers and sisters. Today is an important day for self-reliant India. This day is witness to the fact how the country competes with the challenging situations, how the people of UP have the power to brace for crisis.  When the Corona pandemic broke out in the world, there were apprehensions regarding the poor people of India. The Centre in all its endeavours was concerned how my poor brothers and sisters could suffer the least, how they could overcome this crisis. With this concern in mind, the Garib Kalyan Yojana with a package of Rs 1.70 lakh crores was launched in the country so that no poor could starve. When the 20 lakh crore economic stimulus was announced, the top priority was given for the welfare of the poor and his livelihood. Today, the common man of the country has proved that he can also reverse any adversity. PM SVANidhi Yojana has supported the efforts of the poor. And today, our street vendor colleagues are able to restart their work and move ahead with self-reliance. Friends, the PM SVANidhi Yojana was launched in the country on June 1 and from July 2 i.e. within a month, the online portal started getting applications. This is the first time the country is witnessing the speed with which the schemes are being implemented. Nobody could imagine the speedy implementation of the schemes for the poor, given the past experiences. This is the first time since independence that an affordable loan scheme has been designed for street vendors without any guarantee. Today, the country is standing with you and is honouring your efforts. Today, the country is also recognizing your contribution to the Self-reliant India campaign. Friends, the scheme has taken care from the beginning that our street vendor brothers and sisters do not have any difficulty. Initially, the people were upset about the documents and the guarantee for applying for loan. Therefore, it was ensured to maximize the use of technology in this scheme, as is being done in the other schemes for the poor. No document and guarantor is required. There is no middle-man and one does not have to make rounds of the government offices. You can yourself upload the application online or can do so by visiting any Common Service Centre, municipal office or bank branch. And the outcome is that today a street vendor is not bound to visit anybody to restart his business. Banks themselves are coming forward to provide loans. Friends, the role of street vendors in the economy of Uttar Pradesh is very big. UP is a big state, has a huge population but street vendors are not only meeting the needs of the people in villages and towns but are also earning something for themselves. The street vending business has a huge role in minimizing the exodus from Uttar Pradesh. Therefore, UP tops the list in the country in making available the benefits of PM SVANidhi Yojana. The maximum applications of urban street vendors have come from UP. About 25 lakh SVANidhi loan applications have been received from across the country and more than 12 lakh applications have been approved. Out of this, more than 6.5 lakh applications have come from UP alone and about 3.45 lakh applications have been approved. I congratulate the UP government, Chief Minister Yogi Adityanath ji and his team specially for taking care of concerns of the street vendors promptly.  I have been told that stamp duty has been exempted for the loan agreement of SVANidhi Yojana in UP. Thousands of rupees worth financial assistance have been provided to six lakh street vendors in UP during the Corona pandemic.  I also thank the UP government for this. Friends, those who were doing politics over poverty had created such an environment in the country that there was an apprehension that if a loan is given to the poor, he would not return the money. All those corrupt people have always tried to blame the poor for dishonesty. But, I have said it earlier and I reiterate it today that the poor of the country does not ever compromise with honesty and self-respect. The poor have once again proved this reality and have set an example of their honesty through the PM SVANidhi Yojana. Most of the street vendors who were given loan through the SVANidhi scheme are repaying their loan on time. Our street vendors in UP are also earning through hard work and paying the instalments. It is the will, manpower and honesty of our poor. Friends, you have been briefed about the PM SVANidhi Yojana through banks and other organizations. Here also, you have been informed. It is necessary that more and more people should be briefed about this scheme. Under this scheme, easy loan is also available and there will also be a 7 percent discount on interest on timely repayment. And if you resort to digital transactions, cashback upto 100 rupees a month will also be deposited in your bank accounts. If you do these two things, then your loan will become interest free in a way and you can avail bigger loan next time. This money will help you augment your business. Friends, today if the doors of the banks have opened for you and today banks themselves are coming to you; it has not been made possible in a day. This is the result of the efforts of several years of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’ policy. This is also an answer to those who used to say that nothing would happen by linking the poor with the banking system. Friends, many people had raised questions and made fun of it when the Jan Dhan accounts of the poor were opened. But, today the same Jan Dhan accounts are helping the poor at the time of the crisis and helping them make progress. Today the poor is connected to the bank and to the mainstream of the economy. Today, our common man is better placed to cope with this economic crisis which has forced the world’s major countries to surrender. Today, our mothers and sisters are cooking meals on gas stoves. Even during lockdown, they did not have to cook in smoke.  The poor is getting a home under the Pradhan Mantri Awas Yojana, electricity connection under Saubhagya Yojana, free treatment upto Rs. 5 lakh under the Ayushman Yojana. Today, the poor have the security of insurance schemes. The pledge of the country is for the overall development of the lives of the poor. On this occasion, I assure all the street vendors, workers and farmers that the country will leave no stone unturned to advance your business and improve your life. Friends, I once again thank you all for facing all the difficulties caused due to Corona bravely and following the precautionary rules carefully. The country will be able to defeat this pandemic very soon due to your awareness and caution. I am hopeful that very soon we will realize the dream of Self-reliant India. And yes, we have to be extra careful regarding the distance of two yards and wearing of mask during the festivals. There should not be any laxity. With these wishes, I once again congratulate you all for the festivals and pray to the God for progress in your life. Many many thanks!