PM Svanidhi

• To uplift the street vendors effected by COVID-19 pandemic and consequent lockdowns, the MoHUA announced the PM-SVANidhi Scheme that was launched on 24th March 2020.
• Under the scheme, financial assistance of Rs. 10,000/- is provided to street vendors through loans to be repaid in 12 equal monthly installments.
• The GoI announced 7% interest subsidy and incentives for digital transactions.
• GOI has issued guidelines to saturate micro credit facility for 125 cities across the country by end of the September 2020 out of which 12 ULBs are from Andhra Pradesh.
• The concerned staff of MEPMA are making efforts for online enrolment and sanction of loan applications.