PM SVANidhi Scheme- Even those who run street-tracks, carts or roadside shops will be able to take advantage of the Pradhan Mantri Swanidhi Yojana (PM SVANidhi), which does not have identity card and sales certificate. The Central Government has started a letter of recommendation (LoR) system for this on Friday.
new Delhi. A big announcement has been made for those who run the street-road, cart or roadside shop. On Friday, the Central Government has introduced a system of recommendation (LoR) linked to the PM SVANidhi scheme. If put in easy words, now the Prime Minister will be able to avail the benefit of PM SVANidhi Scheme, which does not have identity card and sales certificate. Let us tell you that under the PM SVANidhi scheme, people living on livelihood by setting up street shops and small shops get loans up to Rs 10,000.
what will happen now- According to an official statement issued by the government, Secretary of the Ministry of Housing and Urban Affairs, Durga Shankar Mishra introduced this facility and said that the eligible street-dwelling local urban body can request for a letter of recommendation. Mishra said that after obtaining the LOR under the scheme, contract shopkeepers can apply for loan. According to the Ministry, this module is designed to facilitate those shopkeepers (street vendors) who do not have identity card (ID) and certificate of sale (COV) and their name to avail benefits under the scheme. For the survey are not included in the list.
To apply online for obtaining LORs from local urban bodies on PM Swanidhi portal, a vendor should have any one of the following documents.
Further, a vendor can request the local urban body through simple application on plain paper to ascertain the genuineness of its claim by local investigation. Dispose of the request for issue of LOR to the local body within a period of 15 days. Have to do.
According to the statement, sellers who have LORs will be issued a certificate of vending / identity card within a period of 30 days.
These documents are required – Certificate of outright assistance given by some states / UTs during the lockdown period or membership details of vendor associations or any other document to prove that he is a seller.
Know about PM SVANidhi- This loan will be for a period of one year and will have to be paid in monthly installments. No guarantee will be taken for the loan. In this way it will be an unsecured loan.
7 percent annual interest subsidy will be transferred by the government to their account to the street vendors who repay this loan on time.
There is no provision for penalty under this scheme. All traders will have to do digital transactions, they will get cashback offer in it.
SIDBI has been appointed as the implementing agency for the scheme and till date 2 lakh applications have been received under it. While loans have been sanctioned to 50 thousand businessmen.
The government has approved an amount of Rs 5000 crore for this scheme started for street vendors. There will be no strict condition for this. It will be found with easy terms.
Who will get the benefit of this scheme – Under this special credit scheme, 50 lakh street vendors who have vending till or before March 24, 2020 can take loan. In this, this loan will be given to those who run shops on road side carts or street vendors. Fruit-vegetable, laundry, saloon and paan shops are also included in this category. Those who run them can also take this loan. It is believed that 50 lakh will benefit from this scheme.
