Lok Sabha Question No. 2483 (UNSTARRED), answered on 2023-08-03
Subject: Financial Assistance to Street Vendors
Ministry: HOUSING AND URBAN AFFAIRS
Asked by: Queen Oja

## GOVERNMENT OF INDIA

## MINISTRY OF HOUSING AND URBAN AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO.2483 TO BE ANSWERED ON AUGUST 03, 2023 FINANCIAL ASSISTANCE TO STREET VENDORS

## NO. 2483. SHRIMATI QUEEN OJA:

Will the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:

- (a) whether  the  Pradhan  Mantri  SVANidhi  Yojana  was  launched  to  provide financial assistance to street vendors affected by the Covid pandemic and if
- so, the details thereof;
- (b) the details of mandatory conditions to be fulfilled to avail benefits under the said yojana;
- (c) the maximum amount of loan to be provided under the said yojana and the total amount allocated so far;
- (d) whether there is any provision to return the amount of assistance received under the said yojana along with interest and if so, the details thereof;
- (e) whether some cases have come to the notice of the Government wherein the beneficiaries did not return the loan after availing it; and
- (f) if  so,  the  action  taken  by  the  Government  against  the  said  beneficiaries,
- State/UT-wise?

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF HOUSING AND URBAN AFFAIRS

(SHRI KAUSHAL KISHORE)

- (a): Yes Sir. Ministry of Housing and Urban Affairs (MoHUA) launched the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme on June 01, 2020 with the aim to facilitate collateral free working capital loan to street vendors  to restart their  businesses,  which  were  adversely impacted  during  the  Covid-19  pandemic.    The  Scheme  has  the  following objectives:

- i. Facilitate  collateral  free  working  capital  loan  up  to ₹ 10,000,  of  1  year tenure, with enhanced loan of ₹ 20,000 and ₹ 50,000 in the second and third trances respectively, on repayment of earlier loans.
2. ii.Incentivize  regular  repayment,  through  interest  subsidy  @  7%  per  annum; and
3. iii.Reward digital transactions, by way of cash back up to ₹ 1,200 per year.
4. (b): Under the PM SVANidhi Scheme, all street vendors engaged in vending in  urban  areas  are  eligible.  These  Street  Vendors  should  have  either  a Certificate of Vending (CoV) or a Letter of Recommendation (LoR) issued by the respective Town Vending Committee (TVC).
5. (c): Street Vendors can avail maximum of ₹ 50,000 in the 3 rd   tranche of loan  under  PM  SVANidhi  on  successful  repayment  of  earlier  loan.  As  on 31.07.2023, 51.35 lakh loans amounting to ₹ 6607.94 Cr have been disbursed under 3 rd  tranche loan under PM SVANidhi Scheme.
6. (d): Yes  Sir.  Under  the    PM  SVANidhi  Scheme,  the  loan  of ₹ 10,000, ₹ 20,000 and ₹ 50,000 given under  1 st , 2 nd  and 3 rd  has to return within the term of  12  months,  18  months  and  36  months  respectively.  The  rate  of  interest charged by the  Lending  Institutions  is  as  per  the  extant  RBI  guidelines.  An interest subsidy of 7% is paid by the Union Government on a quarterly basis on timely repayment of EMIs.
7. (e) & (f): Under the PM SVANidhi Scheme, loans are directly disbursed by lending institutions to the Street Vendors. As such, action, if any, against the defaulters  for  non-return  of  loan  amount  is  taken  by  the  concerned  Lending Institutions.

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