*Do you know how much our street vendors suffer ?
Per day they make around 300 rupees by selling on streets.
*Did you ever think of their families or children ?
*To start a business, do street vendors need a support system or not ?
*What about their dreams and aspirations ?
During COVID, many people lost their lives. Due to that, many street vendors lost their livelihood. If any street vendor lost his job or wanted a loan, for them government of India initiated the PM Svanidhi scheme.
The government launched an intiative by providing loan without any collateral. Which indicates that a street vendor who takes and repays loans up to 15,000 is eligible for 25,000 in the second stage of the loan-taking process and a vendor who repays past loans on time will be eligible for 50,000. The eligibility for this scheme is anybody who is 18 years old. Would get about a 7% interest subsidy from the government. You can apply for PM SVANidhi through the official PM SVANidhi portal. You can also apply through participating banks, microfinance institutions, or a nearby Common Service Centre.
The government about 1.2 crore loans have been given, which is more than 17,800 crore. About 75+ lakhs vendors have got benefits. A UPI Rupay card was also launched. These initiatives are the major source of vocal for locals.
