PM SVANIDHI Loans: Supporting Street Vendors

Nature of Facility	Working Capital Demand Loan
Purpose	To facilitate street vendors to access affordable working capital loan for resuming their livelihoods activities, after easing of lockdown.
Target Group	Urban Street Vendors
Salient Features	Initial Working Capital Demand Loan (WCDL) loan of up to Rs.10,000/- with tenure of 1year and repaid in monthly installments. Prompt payment of initial loan will be enhanced in second tranche up to Rs.20000/- and 3rd tranche up to Rs.50000/- On timely or early repayment next cycle of working capital loan with an enhanced limit can be given. Interest subsidy @7% will be paid for the period during which the account is standard. Monthly cash-back incentive on digital transactions. No collateral will be taken and the scheme shall be implemented up to 31 March 2024.

The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act,2014.
Street vendors/hawkers vending in urban areas, as on or before March 24, 2020, including the vendors of surrounding peri-urban and rural areas.
Street vendor shall have Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs).
The vendors, who have been identified in the survey but have not been issued Certificate of Vending/Identity Card.
Left out in survey of ULBs but have been issued Letter of Recommendation (LoR).
Street vendor must have one active/preferred UPI ID.

The lists of such States/UTs /ULBs/ lists of identified street vendors which have complied with the scheme requirements are available on PM SVANidhi Portal.

http://pmsvanidhi.mohua.gov.in/Home/States

As per bank guidelines.

As per extant guidelines.

Agree to pay penal interest at 2% for overdrawn portion, in case of delayed regularization of the limit.