PM Modi to Virtually Distribute Loans to 3 Lakh Street Vendors

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Under the PM SVANidhi Scheme launched in June 2020, Prime Minister Narendra Modi will distribute loans to nearly 3 lakh street vendors under the Atmanirbhar Nidhi Yojana through a virtual conference today. He is also expected to communicate with the benefeciaries of the scheme on this occasion.

Earlier on Monday, PM Modi tweeted : “Will interact with my brothers and sisters from Uttar Pradesh who sell goods on roads. It will be an opportunity to know how Pradhan Mantri Swanidhi Yojana gave new strength to them.”

Under the scheme, street vendors can get a working capital upto Rs. 10,000 at a subsidised rate.

As many as 3.27 lakh applications from UP have been approved and loan of 1.87 lakh has been disbursed. Out of the total applications, 12 lakh have been approved and loans worth about 5.35 lakh have been disbursed, it added.

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