Govt Launches Mobile App "PM SVANidhi" To Process Loans For Street Vendors

"This app aims to provide user friendly digital interface for the functionaries of urban local bodies (ULBs) to source loan applications of street vendors," an official statement said.

India   |   20 Aug 2020 1:24 PM GMT / Updated : 2020-08-21T16:15:07+05:30
Writer : Sumanti Sen | Editor : Prateek Gautam | Creatives : Abhishek M
Govt Launches Mobile App PM SVANidhi To Process Loans For Street Vendors

Image Credit: Pixabay

A mobile application was launched by Union Minister Hardeep Singh Puri on Wednesday, August 19, for urban local bodies to source loan applications from street vendors under the PM SVANidhi scheme.

Under the scheme, street vendors can avail working capital loan of up to ₹ 10,000. In the tenure of one year, the amount is repayable in monthly instalments.

"This app aims to provide user friendly digital interface for the functionaries of urban local bodies (ULBs) to source loan applications of street vendors," an official statement read.

As per the statement, Puri, during an interaction with state urban development ministers, urged them to dovetail other schemes to ensure economic upliftment for street vendors.

Puri further said that to ensure that beneficiaries can raise their grievances in a conductive manner, a forum should be constituted -chaired by district collector and having representation of police/ULB and other relevant departments.

The urban development ministry said that over 5.68 lakh applications have been received since the commencement of online submission of applications on PM SVANidhi portal on July 2. Further, more than 1.3 lakh have been sanctioned across states and Union Territories.

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Sumanti Sen

Sumanti Sen

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Sumanti Sen is an English Literature graduate who believes "there's just one kind of folks. Folks.".

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