PM SVANidhi Scheme: Apply Online, Check Eligibility, Benefits & New Rules

PM SVANidhi Scheme: PM SVANidhi is a central sector scheme (CSS) launched by the Central Government to support the street vendors. It is a micro-credit scheme launched by the Ministry of Housing and Urban Affairs in 2020. The beneficiaries will get collateral free working capital loans of up to ₹10,000 for one year tenure, with subsequent loans of ₹20,000 and ₹50,000 with a 7% interest subsidy. The scheme aims to promote digital transactions among the street vendors.

PM SVANidhi Scheme Launched In Which Year

PM SVANidhi Scheme was launched on 1st June 2020 by the Ministry of Housing and Urban Affairs (MoHUA) to provide financial support to street vendors.

PM SVANidhi Scheme Eligibility

The applicants must meet certain eligibility criteria in order to be eligible to apply for the PM SVANidhi Scheme. The following are the eligibility criteria:

• The Street Vendors must possess Certificate of Vending/ Identity Card issued by Urban Local Bodies (ULBs).

• Vendors identified in the Survey done by the ULBs, but do not possess Certificate of Vending/ Identity Card.

• Street Vendors left out of the ULB-led survey or who have started vending after completion of the survey and have been issued a Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC).

• The vendors of surrounding development/ peri-urban/rural areas vending in the geographical limits of the ULBs, who have been issued a Letter of Recommendation (LoR) to that effect by the ULB / TVC.

PM SVANidhi Scheme Documents Required

There are certain sets of documents that are required to be uploaded while availing the benefits under the PM SVANidhi Scheme. These documents are required to avail loans. The documents required vary according to the category of vendors.

For Category A and B vendors: Street Vendors possessing Certificate of Vending/ Identity Card issued by Urban Local Bodies (ULBs) and those identified in the ULB survey. The documents required are:

1. Certificate of Vending

2. Identity Card

For Category C and D vendors: For vendors who have Letter of Recommendation provided by the ULB / Town Vending Committee (TVC) and vendors of surrounding development/ peri-urban/rural areas vending in the geographical limits of the ULBs must have:

1. Letter of Recommendation

KYC documents required in addition to CoV/ID/LoR :

1. Aadhaar Card

2. Voter Identity Card

3. Driving License

4. MNREGA Card

5. PAN Card

For Letter of Recommendation :

• Copy of Account Statement/Passbook

• Copy of Membership Card/any other proof of membership

• Any other document to substantiate the claim as a vendor

• Request letter to ULB

For Second Loan: The street vendors who require a second loan must have the Loan closure document with them.

PM SVANidhi Scheme Application Process

Applicants can follow the simple steps given below to apply for the PM SVANidhi Scheme:

Step 1: Visit the official website- pmsvanidhi.mohua.gov.in.

Step 2: On the homepage, click on the “Login” button and select Applicant.

Step 3: You will be redirected to the login portal.

Step 4: Enter your mobile number and captcha and generate OTP.

Step 5: After login, select Vendor Category and enter the Survey Reference Number (SRN).

Step 6: Now fill all the necessary details that have been asked.

PM SVANidhi Scheme Apply Link

The applicants for the PM SVANidhi Scheme can apply through the link provided below: