PM SVANidhi Loan Apply Online, Rs 10,000 Loan for Street Vendors Application Form

PM SVANidhi Loan Apply Online, Rs 10,000 Loan for Street Vendors Application Form: Today in this post, we have described the details of PM SVANIDHI Loan Scheme 2023. As you all know, the Modi Government has always started many beneficial schemes for public welfare. Recently, the Government of India has initiated the Svanidhi scheme under the Ministry of housing and urban affairs. With the implementation of this scheme, the govt will be offered loans up to 10000 rupees for a 1-year tenure. And it will be Collateral free working capital. Basically, this scheme will support Street vendors (approximately 50 lacks) to resume their work.

So the govt has also ensured that this scheme will be improved the capability of street vendors and empower them with the facility of loans to be extended. In this post, we have shared every single piece of information about this scheme, as like PM Svanidhi Yojana 2023, प्रधानमंत्री स्वनिधि योजना आत्मनिर्भर भारत, Prime Minister Svanidhi scheme online apply, PM SvaNidhi Loan Status, Vendor List. Read this post to the end.

About PM Svanidhi Yojana 2023

We all know very well, the Coronavirus directly hit the Economy of our country and this pandemic has badly affected the lives of many individuals, especially the ones involved in physical labor. All the street vendors have also affected in Covid -19 lockdown. Due to the lockdown, most of the workers and businesses have shut down or run on minimum Income. So to resolve all problems the Indian government has decided to find the best way to provide credits for the working Capital to the street vendors of the country. Finally, the Ministry of Housing and Urban Affairs has presented the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi).

Now all the grievance street vendors can easily take loans for one year. And this loan will be Collateral-free and at low-interest rates. With the help of this financial support, all the street vendors have resumed their businesses. According to the govt data, on the date of July 02, 2020, around 1,54,000 street vendors applied for a working capital loan from across India. Despite that, over 48,000 have already been sanctioned. So if you also want to avail the benefits of this scheme then you must apply for PM SVANidhi Loan Scheme by online process.

PM SVANidhi Loan Apply Online

PM SVANidhi Loan Apply Online – Key Facts

Name of Scheme PM Svanidhi Yojana
Started by Pradhan Mantri Narender Modi Ji
PM SVANIDHI Full Form Prime Minister Street Vendor’s AtmaNirbhar Nidhi
Last Date for applying for PM SVANIDHI The scheme was valid till March 2022 but, it was further extended up to December 2024.
Department Name Ministry of Housing and Urban Affairs (MoHUA), Government of India
Beneficiaries All the street vendors who are involved in the business in urban areas since March 24, 2020.
Launch Date June 01, 2020
Official Website

Eligibility Criteria of PM S

The main authority of this scheme has set some Eligibility Criteria for candidates to apply online for this scheme. Kindly check out the given mentioned eligibility:-

  1. The candidates must be permanent residents of India.
  2. All street vendors should have a certificate of vending for identity proof issued by the urban local body.
  3. If the candidates are identified under the survey but not issued an identity card. Your certificate must be provisional vending would generate through the IT platform.
  4. Vendors of surrounding development should have geographical limits
  5. Certificate from urban local bodies and a letter of recommendation should initiate from the town vending committee.

Objectives of PM SVANIDHI Scheme

  • The main of the PM Svanidhi scheme is to provide financial support to Street vendors.
  • Under this scheme, the government has provided the facilitate capital of 10000 Rupees to a street vendor to incentivize the regularity for payment of a loan.
  • All the given rewards will be transferred by online mode.
  • Now all the needed street vendors can formalize their objectives.
  • So this is a golden chance to rebuild your business and earn money.
  • For tenure of 1 year up to Rs. 10000/- loan is provided to Urban Street Vendors.
  • The given money will be provided as per the working capital and it can be repaid in monthly installments.
  • You don’t need to take the Collateral for getting this loan.
  • If the vendor will pay the installment on time, they will be eligible for the next working capital loan with enhancing limit.
  • If they’re unable to pay on time penalty will be charged.

Benefits of PM

  1. With the implementation of this scheme, financial support will be done through the digital transition.
  2. All the provided incentives will credit as per the cashback.
  3. Moreover, all the registered vendors will get cashback up to 50 rupees to 100 rupees.
  4. For the next 50 transactions, 25 rupees are provided on reaching hundred eligible transitions. Similarly, on the 100 eligible transactions in a month, you will get 75 rupees cashback.
  5. For the next 100 transactions again 25 rupees are credited. This makes it a total of 200 eligible transitions that will let the vendor earn 100 rupees.

Important Guidelines for Loan under PM Svanidhi

So you must have read about the important steps that candidates must check before applying online. We have shared it point by point given below:-

  • Check your Requirement of Loan:- All the candidates must have to check out the Documents requirements. Arrange all the required documents at the time of Registration.
  • Link your Aadhaar Card with your Mobile Number:- Everyone should have linked their mobile number with their Aadhar card. At the time of Online registration, the OTP code will be sent to your number.
  • The Candidates check their name in the survey list of the urban local bodies before applying for a loan.
  • Despite that, the street vendor of nearing development areas is within the geographical limit of the urban local body. They must have a copy of the letter of recommendation to get a loan.

Procedure for Online Application of PM Svanidhi Yojana

In this section, we have shared the step-by-step process for the apply online for the PM SvaNidhi scheme 2023. Kindly follow the given mentioned steps to get a loan under this scheme:-

  1. First of all, You need to visit the Official Website of the PM Svanidhi Scheme.
  2. The homepage will be open before you.
  3. On the homepage, you need to click on “Apply for a load”.
  4. A new page will open on the screen.
  5. Here you need to fill in the Mobile Number and get the OTP on your number.
  6. Then enter the captcha code in a given section.
  7. So you will be redirected to the next page, here the portal will be asked the aadhaar card details.
  8. Now you will get the application form on the new page.
  9. So the application form will be open now, you have to fill out this form with the required details.
  10. Kindly click on the “SUBMIT” form.
  11. It will come under scrutiny after verification loan will pass
  12. In the last just take a printout of this application form for future reference.

How to Apply for a Letter of Recommendation?

After the registration of the PM SvaNidhi scheme, then the applicants must send the request for a letter of recommendation. Just follow the given mentioned steps only:-

  1. You have to navigate the official website of the Svanidhi Portal.
  2. The homepage will be open on the screen.
  3. On the homepage, you need to click on the “Apply for LOR”
  4. Now you have to enter your Mobile Number.
  5. You will receive the OTP code on your number.
  6. And you must have shared the Aadhaar Card details for verification.
  7. The candidates can also verify by Aadhar through OTP or biometrics.
  8. Next, you have to upload the required documents.
  9. Click on the SUBMIT button.
  10. After scrutiny letter of recommendation will generate for the beneficiary.

Way to check your PM Svanidhi Online Status

  • Visit the official website of the PM Svanidhi Portal.
  • The homepage will be open before you.
  • On the homepage, you need to click on “Know your Application Status”.
  • Then you must enter your application number and mobile number.
  • Kindly enter the OTP sent on your mobile number and click on search.
  • Finally, the application status will appear on the screen.

Steps to Check the Vendor Survey List 2023

All the applicant those are already applied for the Svanidhi Loan can also check the

  1. Go to the official website of the Svanidhi Portal.
  2. The homepage will be open before.
  3. On the homepage, you need to click on the “Vendor Server List”
  4. Then the portal will be asked the candidate’s details.
  5. So you have to enter the details as ULB number, vendor ID card, number, certificate of vending number, name of a street vendor, father’s name, and mobile number.
  6. Just click on the search option.
  7. So if you have found your name in the list, then you are eligible for a loan.
  8. If they do not have the name they can apply for a letter of recommendation.

I hope my dear readers, you have got all the important details regarding the PM Svanidhi Loan 2o23. If you are facing some problems then drop your problems in comment section. Stay connect with us on the!!!

About The Author

Sr Author at PubDelight

Rohit Kashyap is an avid gamer and writer who specializes in creating content that appeals to the gaming community. With his in-depth knowledge of the latest games and trends, he offers expert reviews and insights into the world of gaming.

Contact via email: [email protected]

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