Union Minister Hardeep Singh Puri launches SVANidhi Mahotsav

Tags: National News

The Svanidhi Mahotsav, which runs from July 9 to 31, is being organised by the Ministry of Housing and Urban Affairs.

• Important facts

• Housing and Urban Affairs Minister Hardeep Singh Puri inaugurated the Svanidhi Festival.

• Svanidhi Mahotsav is a cultural festival being celebrated to commemorate the success of PM Svanidhi Yojana.

• It is being conducted in 75 cities across 33 states and union territories.

• Digital transaction training, loan fair and cultural activities will be organised during the festival.

• Street plays will also be organised to share the benefits, features and experiences of street vendors during this time.

• 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.