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Over 57 Lakh Street Vendors Benefitted from PM Loan Scheme

Over 57 Lakh Street Vendors Benefitted from PM Loan Scheme

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NEW DELHI, Dec 29: A total of 57.83 lakh street vendors have benefitted from the PM SVANidhi scheme which was launched during the COVID-19 pandemic for providing affordable loans to hawkers.

While 80.77 lakh loans have been sanctioned under the scheme, 76.22 lakh loans worth Rs 10,058 crores have been disbursed, Union Minister for Housing and Urban Affairs Hardeep Singh Puri said on Friday.

Around 45% (25.78 lakh) women street vendors have received loans and 72% of the beneficiaries are from marginalised sections, he said while inaugurating the National Street Food Festival 2023 in the capital.

PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a special micro-credit facility launched by Ministry of Housing and Urban Affairs, for providing affordable loans to street vendors and facilitates collateral free working capital loans of up to Rs 10,000 for a one year tenure.

Mr Puri said the scheme, apart from disbursing substantial loans, has facilitated digital transactions, and even opened doors to food delivery platforms. “This has not only provided financial assistance but has also expanded the market reach for our street vendors,” he said.

This street food festival is being organised by the National Association of Street Vendors of India (NASVI) and is the first ‘Zero Waste Street Food Festival’ in India having conceptualised in alignment with India’s Swachhata movement.

The Union Minister also appreciated NASVI for providing training to 1,50,000 street vendors in food safety and hygiene and noted the establishment of two Regional Street Food Vendors Training Institutes (SVTI) which will be launched by NASVI in 2024 in Delhi and Patna. These institutes will not only provide training in culinary skills but will also prioritise food safety and hygiene, he said.

(Manas Dasgupta)

 

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