Government extended the PM SVANidhi Scheme

The Government of India has extended the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond March, 2022.

Important facts

The extension of the lending period will be till December 2024.
Introduction of 3rd loan of upto ₹50,000 in addition to 1st & 2nd loans of ₹10,000 and ₹20,000 respectively.
To extend ‘SVANidhi Se Samriddhi’ component for all beneficiaries of PM SVANidhi scheme across the country.

About PM Svanidhi Yojana

PM Svanidhi Yojana was launched on June 1, 2020.
This scheme was started with the aim of providing financial support to small shopkeepers and hawkers.
Under the PM Svanidhi Yojana, people who sell goods on the street tracks or do other small jobs can take a loan of up to ₹ 10,000 from the bank.
After repaying the loan taken in the first instance, the beneficiary can get a loan of up to ₹ 20,000 in the second time and up to ₹ 50,000 in the third time.
The tenure of the Svanidhi scheme was earlier till March 2022, but the government has extended the deadline of the Svanidhi scheme till December 2024.
So far 53.7 lakh applications have been received under this scheme, out of which 36.6 lakh applications have been approved and 33.2 lakh loans have been disbursed.
An amount of Rs 3,592 crore has been disbursed under the scheme so far.

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