Over 90% loans under PM SVANidhi sanctioned by PSBs: FinMin

The finance ministry on Friday said public sector banks (PSBs) have sanctioned over 90 per cent loans under the PM SVANidhi scheme to help registered street vendors restart their business post the COVID-19 lockdown. Over 90% of loans under the scheme are sanctioned by PSBs. Committed to create #AatmaNirbharVendors for an #AatmaNirbharBharat!," the Department of Financial Services said in a tweet..


PTI | New Delhi | Updated: 11-09-2020 22:36 IST | Created: 11-09-2020 22:36 IST
Over 90% loans under PM SVANidhi sanctioned by PSBs: FinMin
  • Country:
  • India

The finance ministry on Friday said public sector banks (PSBs) have sanctioned over 90 per cent loans under the PM SVANidhi scheme to help registered street vendors restart their business post the COVID-19 lockdown. The union government had launched the PM Street Vendor's AatmaNirbhar Nidhi (PM SVANidhi) scheme on June 1 to help poor street vendors impacted by the COVID-19 pandemic resume livelihood activities.

Under the scheme, street vendors of urban areas get collateral-free loan of up to Rs 10,000 for a period of one year. The scheme was part of Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May.

"PSBs at the forefront of #PMSVANidhi. Over 90% of loans under the scheme are sanctioned by PSBs. Committed to create #AatmaNirbharVendors for an #AatmaNirbharBharat!," the Department of Financial Services said in a tweet..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback