PM SVANidhi Empowers Street Vendors Nationwide

The PM SVANidhi scheme has disbursed loans to 94.31 lakh street vendors, totaling Rs 13,422 crore. This initiative supports urban street vendors with collateral-free loans up to Rs 50,000. Madhya Pradesh and Assam have ranked as top performers. No fraud complaints have been reported under the scheme.

The Union Housing and Urban Affairs Ministry has achieved a significant milestone, disbursing 94.31 lakh loans worth Rs 13,422 crore to street vendors through the PM SVANidhi scheme as of December 8, according to a statement made in the Rajya Sabha on Monday.

Minister of State for Housing and Urban Affairs Tokhan Sahu disclosed that 40.36 lakh of these loans have already been repaid by beneficiaries. The micro-credit scheme, launched in 2020 amid the COVID-19 pandemic, provides collateral-free loans up to Rs 50,000 to urban street vendors.

The program has reported no fraud-related complaints concerning loan disbursement agencies. Under performance rankings, Madhya Pradesh was recognized as the 'Best Performing State,' while Assam followed in the 'Innovation and Best Practices Award' category.

(With inputs from agencies.)