PM Svanidhi Yojana 2024: The government has come up with many beneficial schemes for the citizens to recover from the epidemic like Corona. Which includes this PM Svanidhi Yojana. In previous article we got detailed information about PM Janman Yojana 2024, Namo Laxmi Yojana, Sarasvati Sadhana Cycle Yojana 2024. In today’s article, we will get the detailed information about PM Svanidhi Yojana.
The PM Svanidhi Yojana run by the Central Government is an excellent scheme. In which interest-free loans ranging from Rs.10,000 to Rs.50,000 are given to small businessmen, rickshaw pullers and cyclists and people living below poverty line. By applying for PM Svanidhi Loan Yojana, you too can avail the benefits of this scheme. All information related to this plan is provided step by step through this article. With the help of which you can also apply for this scheme.
PM Svanidhi Yojana, Highlight Point
|Name of Article
|PM Svanidhi Yojana
|There are petty traders, rickshaw pullers and cycle rickshaw pullers
and people below the poverty line.
|To improve the economic condition of small traders through Swanidhi Yojana.
|1 July 2020
|Loan amount ranging from ₹10,000 to ₹50,000
|Interest rate Nil (if paid on time)
Objectives of PM Swanidhi Yojana
Pradhan Mantri Swanidhi Yojana aims to empower small businesses and entrepreneurs by providing financial assistance. Which will support them in self-reliance and increase the chances of employment generation. Under the PM Svanidhi Loan Yojana, loans and effective assistance are provided to small businesses and entrepreneurs. So that they can get capital for new ventures and grow their business. PM Swanidhi Yojana was launched by the Government of India to promote the development of small businesses.
PM Savnidhi 20,000 to 50,000 Loans
The scheme seeks to take a step forward towards the prosperity of the socially and economically deprived sections. Promoting regular payments and the scheme will encourage digital transactions by sellers through cashback facility. Under PM Swanidhi Yojana, loans ranging from Rs 10,000 to Rs 50,000 are provided. For which you can also apply. Information related to applying is provided by this article.
Necessary documents of the scheme
- Aadhaar Card (Mobile Number Linked)
- Business Proof: Documents related to your street vending business.
- PAN Card: For income related verification.
- Bank Account Statement: A copy of your bank statement.
- Address Verification: Documents verifying your place of residence.
- Passport size photograph: Recent photograph for identification.
Benefits of PM Swanidhi Yojana
Under the Swanidhi scheme, entrepreneurs get a chance to avail loans at cheaper interest rates. Which increases the business growth potential.
PM Svanidhi Yojana brings empowerment. Because it provides financial support to small businesses. Which strengthens their positivity and status.
Through Swanidhi Yojana, new entrepreneurs get opportunities. And employment is created, thereby improving employment conditions.
Under the scheme, loans are made to banks. which strengthens their relationship with small businesses and provides financial support to them.
Training and mentoring
Under PM Svanidhi Yojana, training and mentoring facilities are provided to entrepreneurs for better efficiency in business operations.
Eligibility for PM Swanidhi Yojana
The scheme is available to all street vendors engaged in vending in urban areas. Eligible sellers of PM Swanidhi scheme have to meet the following criteria.
- Street vendors have a vending certificate/identity card issued by the Urban Local Body (ULB).
- Vendors who have been identified in the survey but have not been issued a vending certificate/identification card.
- A temporary certificate of vending will be generated for them through an IT based platform.
- ULBs are encouraged to expedite the process and issue permanent vending certificates and identity cards within a period of one month.
- Street vendors, who have been left out of the ULBBuild identification survey or have started vending after the completion of the survey.
- And a Letter of Recommendation (LoR) to this effect has been issued by the ULB/Town Vending Committee (TVC).
- Vendors from nearby development/peri-urban/rural areas who sell within the geographical limits of ULBs.
- They have been issued a Letter of Recommendation (LoR) to this effect by the ULB/TVC.
- IDENTIFICATION OF BENEFICIARIES OF REMAINING OR NEAR RURAL AREA FROM SURVEY, IDENTIFICATION OF CLASS 4 (iii) AND (IV) VENDORS, ULB/TVC CONSIDER ANY OF THE FOLLOWING DOCUMENTS FOR ISSUING RECOMMENDATION LETTER:
- List of vendors prepared by some States/UTs to provide one-time assistance during the lockdown period;
- System generated request sent to ULB/TVC for issue of LOR recommending lender after verifying applicant’s credentials;
- Membership details with vendor associations including National Association of Street Vendors of India (NASVI)/National
- Hawkers Federation (NHF)/Self-Employed Women’s Association (SEWA) etc.;
- The seller has documents substantiating the vending claim;
- Report of local inquiry involving Self Help Groups (SHGs), Community Based Organizations (CBOs) etc. by ULB/TVC.
Pm Svanidhi Loan Apply Online
- Visit PM Svanidhi Scheme official website https://pmsvanidhi.mohua.gov.in/
- Then search for “Apply Now” or “Apply Online”.
- Fill the required application form with correct information.
- Upload required documents, such as Aadhaar card, bank statement and business related documents.
- Check the application to ensure that all details are correct.
- Submit the application as per the instructions given on the PM Swanidhi Yojana website.
PM Swanidhi Yojana APP
With the launch of PM Swanidhi Yojana, a new mobile application, PM Swanidhi Yojana Mobile App, is available for street vendors across the country. This application is developed for sourcing and processing loan applications of street vendors. PM Swanidhi Yojana allows applicants to download and install an application on their smartphones. So that they can easily apply under this scheme. This application includes various features.
- Like finding vendors.
- Having e-KYC of applicants and knowing the status of loan applications.
- It can help you start your employment easily.
FAQ-Frequently Asked Questions
1. Who is eligible for PM Swanidhi?
Ans. PM Swanidhi Yojana is mainly for street vendors.
2. What is the interest rate of PM Swanidhi Loan?
Ans. Interest subsidy is provided by the government at the rate of 7 percent. No interest is charged on timely payment.
3. What is Cashback of PM Swanidhi Scheme?
Ans. Under PM Swanidhi Yojana, sellers who take loans are given a cashback of up to Rs 1200 per year on digital transactions.
4. What is the last date of PM Swanidhi Loan?
Ans. You can apply for PM Swanidhi Yojana till the last date of application is 31 December 2024.