PM SVANIDHI

Background :

We have implemented Star Hawkers Atmanirbhar Loan (SHAL) scheme based on PM street Vendors Atmanirbhar Nidhi (PMSVANidhi) for all the Street Vendors engaged in vending in urban area.

Facility Type :

• Fund Based- Working Capital Demand Loan (WCDL)

Purpose :

• To restart the business, which otherwise has halted due to COVID-19 pandemic.

Eligibility:

• The Scheme is available to all street vendors (SV) engaged in vending in urban areas. The eligible vendors will be identified as per following criteria
• Street vendors identified in survey and in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
• The Vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform by ULBs.
• Street Vendors, left out of the ULB-led 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
• 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.

Loan Amount:

• Upto Rs. 10,000/- in 1st tranche, upto Rs. 20,000/- in 2nd tranche, Upto Rs. 50,000/- in 3rd tranche

Margin:

• NIL

Rate of Interest:

• 6.50% over RBLR p.a. with monthly rests.

Tenor and Repayment:

• 1st Tranche: Maximum up to 12 months, Repayable in 12 EMI starting from one month after disbursement
• 2nd Tranche: Maximum up to 18 months, Repayable in 18 EMI starting from one month after disbursement
• 3rd Tranche: Maximum up to 36 months, Repayable in 36 EMI starting from one month after disbursement

Security:

• Hypothecation of stocks/Goods, No collateral to be obtained.
• CGTMSE graded Guarantee Cover available on portfolio basis.

Processing Fees / Guarantee Fee Payable:

• NIL