Guarantee Free Govt Loan: During the Corona epidemic, when the income of small businessmen and especially street vendors had completely stopped, the government started the Pradhan Mantri Street Vendors Atmanirbhar Nidhi (PM SVANidhi) scheme to help them. Under this scheme, the government started the facility of giving loans up to ₹ 80,000 without any guarantee, so that they can start their business again. Now the government has made this scheme stronger and increased the loan limit to ₹ 90,000.
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Now the benefit will be available till 31 March 2030
The Union Cabinet has approved the extension of the PM Svanidhi Yojana till 31 March 2030. Its direct benefit will be given to 1.15 crore street vendors, including 50 lakh new beneficiaries. The total expenditure of the government on this decision has been estimated to be around ₹ 7,332 crores. The scheme is being jointly operated by the Ministry of Housing and Urban Affairs and the Department of Finance Services.
Now you will get a loan of up to 90 thousand rupees instead of 80 thousand
Let us tell you that along with increasing the deadline of the PM Swanidhi Scheme, the loan limit for all the beneficiaries has been increased. Earlier, the government used to give a loan of 80 thousand rupees, but now the limit has been increased to 90 thousand rupees. In this, a loan of 15 thousand rupees will be received in the first phase, 25 thousand rupees in the second phase, and 50 thousand rupees in the third phase. At present, about 47 lakh people have received the loan.
Loan will be available only through Aadhaar
Let us tell you that the government gives loans to people without any guarantee. For this, the loan recipient does not have to mortgage anything. You get the loan only through an Aadhaar card. Along with this, the money has to be given on time. The benefit of this loan is given under the PM Swanidhi Scheme. It is repaid in a year. The EMI payment facility is also available in this.
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Rupay credit card facility is available
At the same time, the government has clarified that the beneficiaries of the PM Swanidhi Scheme can repay the second loan on time. They will also get UPI UPI-linked Rupay credit card. Under this scheme, people get help to fulfill financial needs and for business. Apart from this, you can start a small business. In this, digital cashback of Rs 1600 is also given to encourage the beneficiaries for digital payment.