JobExam

The PM SVANidhi Scheme (Prime Minister Street Vendors Atmanirbhar Nidhi) is a government initiative that was launched on June 1, 2020. The primary objective of this initiative is to provide assistance to street vendors by facilitating easy access to working capital loans. Under this scheme, vendors can avail themselves of collateral-free loans particularly in the wake of losses incurred during the COVID-19 pandemic to either restart or expand their businesses. Furthermore, the scheme offers benefits such as interest subsidies for timely loan repayment and various incentives for digital transactions, thereby helping vendors achieve financial stability and digital self-reliance. The overarching goal of this scheme is to ensure self-reliance, financial inclusion, and sustainable livelihoods for small vendors across urban areas throughout India.