EDEN IAS

NEWS IMPULSE – PM STREET VENDORS ATMANIRBHAR NIDHI (PM SVANIDHI)| 04 NOVEMBER

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Who?</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> Ministry of Housing &amp; Urban Affairs launched , to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Objective: </span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> The scheme intends to facilitate collater</span></span></span><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>al free working capital loans of up to INR10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Eligibility Criteria:</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>The PM SVANidhi scheme is available to all street vendors who are engaged in vending in urban areas as on or before March 24, 2020. The eligible vendors are identified as per following criteria:</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> Street vendors in possession of Certificate of Vending/Identity Card issued by Urba</span></span></span><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>n Local Bodies (ULBs)</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> The vendors, who have been identified in the survey but have not been issued Certificate of Vending/Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encoura</span></span></span><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>ged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> Street Vendors, left out of the ULBled identification survey or who have started vending after completion of th</span></span></span><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>e survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB/Town Vending Committee (TVC)</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> The vendors of surrounding development/peri-urban/rural areas vending in the geographical limits of the ULBs and have been issued Letter o</span></span></span><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>f Recommendation (LoR) to that effect by the ULB/TVC.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Benefits:</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>The PM SVANidhi scheme offers incentives in the form of:</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> interest subsidy @ 7% per annum on regular repayment of loan</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”> cashback upto INR1200/- per annum on undertaking prescribed digital tr</span></span></span><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>ansactions</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”>&nbsp;</p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Source: india.gov.in/DD News</span></span></span></b></span></span></span></p>