PM SVANidhi Scheme: Amidst unemployment and limited resources in the country, the Pradhan Mantri Swanidhi Yojana, launched by the central government, has emerged as a major support for common people. This scheme is proving extremely useful, especially for those who want to start small businesses in Nagar Panchayat (town council) areas. Under this scheme, loans ranging from Rs. 15,000 to Rs. 50,000 are being provided without any collateral.
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Financial assistance is provided in three installments
According to Arjun Kumar, the Executive Officer of Nagar Panchayat Walidpur, under the PM Swanidhi Yojana, beneficiaries receive a total assistance amount of up to Rs. 50,000 in three installments. The first installment is Rs. 15,000. Subsequent installments are approved upon timely repayment of the loan. This system also fosters financial discipline among the beneficiaries and allows them to gradually expand their businesses.
Objective and benefits of the scheme
The main objective of this scheme is to empower street vendors, hawkers, rickshaw pullers, auto drivers, and the urban poor financially. The government wants people working at the grassroots level to escape the clutches of moneylenders and establish their businesses with government assistance at low-interest rates. This loan can be used to start a new business or expand an existing small business.
Continuous increase in the number of applicants
The Executive Officer stated that earlier, assistance of up to Rs. 10,000 was provided under this scheme, but now the amount has been increased to Rs. 50,000. As soon as the first installment was increased to Rs. 15,000, a significant increase in the number of applicants was observed. Currently, more than 100 new applications have been received in the Nagar Panchayat area, which reflects the popularity of the scheme.
Promoting digital transactions
The PM Swanidhi Yojana also encourages digital transactions. If a beneficiary does not have a smartphone, they can also avail of a loan facility under this scheme to purchase a mobile phone. This helps modernize businesses through online payments, UPI, and digital record-keeping.
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Application Process and Appeals
The Nagar Panchayat administration has appealed to eligible individuals to take maximum advantage of this scheme. Interested individuals can apply by contacting the Nagar Panchayat office or through the prescribed government procedure. This scheme is not only creating employment opportunities but is also playing a crucial role in making people from underprivileged sections of society self-reliant.
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