In which year was the ‘Prime Minister Street Vendor’s AtmaNirbhar Nidhi’ (PM SVANidhi) scheme launched by the Government of India with the objective of providing an affordable working capital loan to street vendors to resume their livelihoods?

Key Points

• The PM SVANidhi scheme was launched by the Government of India in 2020.
• The objective of the scheme is to provide an affordable working capital loan to street vendors to help them resume their livelihoods that were adversely affected due to the COVID-19 pandemic.
• Under this scheme, street vendors can avail a working capital loan of up to Rs. 10,000.
• The scheme aims to formalize street vendors and extend them access to various benefits, including interest subsidies and digital payment rewards.
• The scheme also envisions promoting digital transactions by the vendors through cash-back incentives up to an amount of Rs. 1,200 per annum.

Additional Information

• The full name of the scheme is Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi).
• The scheme was launched by the Ministry of Housing and Urban Affairs.
• It is part of the Atmanirbhar Bharat Abhiyan (Self-Reliant India Campaign) initiated by the Government of India.
• Street vendors play a crucial role in the urban economy by providing essential goods and services at affordable rates to the public.
• The scheme also aims to build the credit history of the vendors for future financial benefits.