New Delhi. Prime Minister Narendra Modi has spoken to the people who have been running the Rehadi tracks and small shops along the road through video conferencing. In this interaction, the people who have benefited under the Pradhan Mantri Street Vendors Self-reliant fund scheme. The government had brought in June the scheme to provide easy loans and some other facilities to small shopkeepers. The Prime Minister is now in the discussion after talking to the beneficiaries of the scheme. We are telling you what this scheme is.
How to get a loan
The central government has launched the Self Fund scheme on 1st June, 2020 to help the street vendors. The scheme was flagged off at a Meeting of the Union Cabinet held on June one under the chairmanship of Prime Minister Narendra Modi. Under pm Swanidhi Yojana, loans up to Rs. 10, 000 are available. It is given with easy conditions. No guarantee will be required. In this way, it will be a kind of unsecured loan. This loan will be given to those who run shops on roadside, handcart or street tracks. Fruit-vegetable, laundry, salon and pan shops have also been included in this category. Those who run them can take this loan.
PM Modi launches Street Vendors ‘Swanidhi Yojana’ to get benefits | Forest India Hindi
Subsidy on repayment of loan time
The loan will be for a period of one year and will have to be paid in monthly instalments. The loan will be transferred to the street vendors on behalf of the Government in their account as an annual interest subsidy of seven per cent. There is no provision of fine under the scheme. All businesses will have to make digital transactions, they will be offered cashback.
Rs. 5000 crore for scheme
The government has sanctioned an amount of Rs. 5000 crore for the scheme launched for street vendors. Under this special credit scheme, 50 lakh street vendors who are vending on or before 24th March, 2020 can avail loans. In the first phase, 125 cities have been selected for the scheme. It is believed that the scheme will benefit 50 lakh.
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