This is an archive article published on June 1, 2023
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In three years, govt disbursed 46 lakh loans to street vendors
So far, about 40% of the loans under PMSVANidhi have been repaid
Marking three years of the scheme on Thursday, Housing and Urban Affairs Secretary Manoj Joshi emphasised the role of street vendors in cities. (Representational image)
Over 46.54 lakh small working capital loans have been disbursed to street vendors under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) in the three years since it was launched on June 1, 2020.
According to the PM-SVANidhi portal of the Union Housing and Urban Affairs Ministry, a total of 46,54,302 loans had been disbursed as of Thursday, the third anniversary of the scheme. Out of those loans, about 40% (18,50,987) had been repaid so far, the portal showed. Under the scheme, street vendors are eligible for a first-term loan up to Rs.10,000. If they repay the first loan, they are then eligible for a second-term loan of up to Rs.20,000 and subsequently, a third-term loan of up to Rs.50,000.
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Most of the loans disbursed and repaid so far are first-term loans – 36,26,653 disbursed and 17,67,241 repaid. A total of 9,68,209 second-term loans and 59,440 third-term loans have also been disbursed till now. While no third-term loans have been repaid so far, 83,746 second-term loans have been paid back.
The scheme was launched to offset the impact of the COVID-19 pandemic and lockdown in 2020. While launching the mobile app for applications on July 17, 2020, the MoHUA had said in a statement: “This scheme targets to benefit over 50 lakh street vendors who had been vending on or before March 24, 2020, in urban areas including those from surrounding peri-urban/ rural areas.”
Marking three years of the scheme on Thursday, Housing and Urban Affairs Secretary Manoj Joshi emphasised the role of street vendors in cities.
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“Street vendors are an integral part of society who play an important role in the economy. Today on the occasion of @pmsvanidhi Foundation day, let us appreciate their contribution and encourage the spirits of micro-entrepreneurship,” Joshi said in a tweet.
Marking three years of the scheme on Thursday, Housing and Urban Affairs Secretary Manoj Joshi emphasised the role of street vendors in cities. (Representational image) 
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