According to the Union Ministry of Housing and Urban Affairs, 94.31 lakh loans worth Rs 13,422 crore were distributed to street vendors under the PM Swanidhi Yojana. This information was given by Minister of State for Housing and Urban Affairs Tokhan Singh in December last year.
During the Corona period, the Narendra Modi government had started many such schemes, through which people get financial help for business. PM Swanidhi Yojana is also one such scheme. The PM Swanidhi Yojana, launched during the Kovid epidemic in the year 2020, is a micro-credit scheme. Its purpose was to help street vendors and small shop owners who want to restart their businesses. Now a credit card will be given under this scheme. The limit of this credit card is Rs 30 thousand. Let us know about the scheme in detail.
You can take loan in three stages
Under this scheme launched by the Ministry of Housing and Urban Affairs, loans are given in three stages. In the first stage, a maximum loan of Rs 10,000 can be given, followed by Rs 20,000 and then Rs 50,000 in the third stage. The time to repay these loans is different. Under this scheme, repaying the loan on time helps in getting more loans in the next stage. Along with this, a cashback of Rs 1200 is also given annually on repaying the loan on time. Apart from this, 7% annual interest subsidy is also provided on repaying the loan on time.
It was announced in the budget
Finance Minister Nirmala Sitharaman had announced the availability of credit cards under the PM Swanidhi scheme in her Budget 2025 speech. She had said that the PM Swanidhi scheme has benefited more than 68 lakh street vendors, giving them relief from high-interest informal sector loans. UPI linked credit cards with a limit of Rs 30,000 will be provided under the scheme. The KYC documents required to avail benefits under this scheme are Aadhaar card and voter ID card. Other acceptable documents are PAN card, driving license or MNREGA card.
94.31 lakh loans were disbursed
According to the Union Ministry of Housing and Urban Affairs, 94.31 lakh loans worth Rs 13,422 crore were distributed to street vendors under the PM Swanidhi scheme. In December last year, Minister of State for Housing and Urban Affairs Tokhan Singh gave this information to the Rajya Sabha in a written reply to a question. He had informed that by 8 December 2024, street vendors have repaid 40.36 lakh loans out of these 94.31 lakh loans. The minister had informed that no allegation of fraud has been received against any of the agencies or companies disbursing loans under the PM-Swanidhi scheme.
Related Articles:-
- Gratuity Calculation: Gratuity is included in CTC, know the complete calculation and how it affects the salary structure
- Air India has launched ‘PayDay Sale’, Xpress Value fares starting at ₹1,535
- EDLI Scheme: Government has made many important changes in the EDLI scheme, know how EPF members will benefit
- School Closed: School holidays extended in this state after heavy snowfall, many roads blocked
- New Passport Rules : Govt changed the rules of passport, this document will be necessary only for identification
