Organisation : Ministry of Housing & Urban Affairs
Service Name : PM SVANidhi Online Registration
Scheme Name : PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)
Applicable For : Street Vendors
Applicable State/ UTs : All India
Website : http://pmsvanidhi.mohua.gov.in/
PM SVANidhi Online Registration
Street vendors represent a very important constituent of the urban informal economy and play a significant role in ensuring availability of the goods and services at affordable rates at the door-step of the city dwellers.
Objectives
The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the following objectives
(i) To facilitate working capital loan up to `10,000;
(ii) To incentivize regular repayment; and
(iii) To reward digital transactions
The scheme will help formalize the street vendors with above objectives and will open up new opportunities to this sector to move up the economic ladder.
Eligibility of States/UTs
The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme. Beneficiaries from Meghalaya, which has its own State Street Vendors Act may, however, participate.
Eligibility Criteria of Beneficiaries
The eligible vendors will be identified as per following criteria
(i) Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
(ii) The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card;
(iii) Street Vendors, left out of the ULBled identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
(iv) The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.
Salient Features
(i) Initial working capital of up to `10,000/-
(ii) Interest subsidy on timely/ early repayment @ 7%
(iii) Monthly cash-back incentive on digital transactions
(iv) Higher loan eligibility on timely repayment of the first loan.
How to Apply?
Kind Attn All States and Banks: Use LOGIN ID & PASSWORD of PM SVANidhi portal on the Udyamimitra Portal (https://portal.udyamimitra.in/Login) for processing of loan applications received under PM SVANidhi Portal.
Steps :
Step 1 : Visit the official website of PM SVANidhi through the URL provided above.
Step 2 : Read the scheme details carefully before you are applying.
Step 3 : After that, click on the “Apply for Loan” link in the home page.
Step 4 : Applicant login with your Mobile Number as Lender/ ULB
Step 5 : Next, fill the application form with the required details to complete the loan application.
Pre-Application Steps
Follow 3 STEPs before starting the online Application Process
1. Understand the loan application requirements
Properly understand the information & documents required to fill the Loan application form (LAF) for the Scheme. Keep all the information ready before you start the application process.
2. Make sure your mobile number is linked to your Aadhaar
You are requested to make sure that your mobile phone is linked to your aadhaar number. This will be required for your e KYC/Aadhaar validation during online application process.
It will also help you to get letter of Recommendation from ULB (in case required). It will also help you avail future benefits under Government welfare schemes.
It is understood from UIDAI officials that for updating mobile numbers, only a form has to be filled and no additional document is required. A link to UIDAI portal where you can find details of the nearest Aadhaar centre is provided below.
3. Check your eligibility status as per scheme Rules ion to be kept ready
Check your status and the documents/ information which you need to keep ready
Rate of Interest
In case of Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks & SHG Banks, the rates will be as per their prevailing rates of interest. In case of NBFC, NBFC-MFIs etc., interest rates will be as per RBI guidelines for respective lender category.
In respect of MFIs (non NBFC) & other lender categories not covered under the RBI guidelines, interest rates under the scheme would be applicable as per the extant RBI guidelines for NBFC-MFIs.
Scheme Details :
https://www.statusin.in/uploads/pdf2020/44339-Gl.pdf
Check Your Survey Status
You can check your survey status whether you have been covered in the survey carried out by Urban Local Bodies(ULB)/Municipalities or not and can save your Survey Reference Number(SRN) for future Reference.
FAQs
1. What are the KYC documents required in addition to CoV/ ID / LoR?
You may carry anyone of the following documents for KYC purpose
(i) Aadhaar Card,
(ii) Voter’s Identity Card,
(iii) Driving Licence,
(iv) MNREGA Card,
(v) PAN Card.
2. What is the amount of incentive for digital transactions?
The on-boarded vendors would be provided with a monthly cashback in the range of `50 -`10 0 as per the following criteria
(i) On executing 50 eligible transactions: `50;
(ii) On executing the next 50 eligible transactions: Additional `25; and
(iii) On executing the next 100 eligible transactions: Additional `25.
Each transaction > `25 will be counted.
3. Who is the target beneficiary for the Scheme?
Street vendors/ hawkers vending in urban areas, as on or before March 24, 2020, including the vendors of surrounding peri-urban and rural areas.
4. Will I get Identity Card for use?
Yes, you will be issued Provisional Identity Card on approval of loan and permanent CoV/ID will be issued within 30 days.
5. I have an Identity Card /Certificate of Vending. How can I apply for the loan?
You can approach a Banking Correspondent (BC)/ Agent of Micro Finance Institution (MFI) in your area (ULBs will have the list of these persons). They will help you in filling up the application and upload the documents in a Mobile App/ Portal.