PM SVANidhi Scheme Disburses Rs 13,422 Cr in Loans to Street Vendors

The Union Ministry of Housing and Urban Affairs has disbursed Rs 94.3 lakh loans totaling Rs 13,422 crore to street vendors under the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, as of December 8, 2024.

Minister of State for Housing and Urban Affairs, Tokhan Sahu, provided this information in a written response to a question in the Rajya Sabha on Monday.

Launched in 2020 during the COVID-19 pandemic, the PM SVANidhi scheme offers collateral-free loans of up to Rs 50,000 to urban street vendors to support their businesses. As of now, Rs 40.3 lakh of these loans have been repaid by beneficiaries.

The minister also noted that no fraud-related complaints have been reported against any agencies or companies involved in the disbursement of these loans.

In his statement, Sahu mentioned that states have been categorized into large states, hilly and northeastern states, and small states/Union territories for performance measurement. Based on these categories, each state has been assigned a disbursement target, and their progress is evaluated accordingly.

In July 2024, Madhya Pradesh emerged as the top performer in the 'Best Performing State' category. Assam was ranked second in the 'Best Performing State - Innovation and Best Practices Award' category for its outstanding efforts in implementing the PM SVANidhi scheme.

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