Page 49 - NIS English 16-30 June 2022
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PM SVANidhi Flagship Scheme
SVANIDHI SE SAMRIDDHI
The objective of PM SVANIDHI is to provide
the facility of guaranteed free capital loans
at low-interest rates and easy terms to those BENEFICIARIES
selling goods on the sidewalks during the TELL IT WAS A TIMELY
Covid-19 pandemic to restart their lives.
For the first time, a loan of Rs 10,000 is given. HELP FROM THE
On timely repayment of this loan, 20 thousand GOVERNMENT
rupees are given in the second installment and
50 thousand rupees in the third installment.
The incentive is given in the form of an interest
subsidy at the rate of 7% per annum every 3
months.
To encourage digital transactions, cashback Our financial condition had become
of up to Rs 100 monthly and up to Rs 1,200 is very weak due to the lockdown. My
given annually. husband is a car mechanic, the
savings were spent, and we had
under the scheme, after which the total amount has nothing left. On getting to know about
increased to Rs 8,100 crore. Now, street vendors will the scheme, applied online. I got a
get working capital easily so that they can expand call from the bank to sign and then
their business and they become self-reliant. It is
expected that about 1.2 crore people will benefit got a loan of 10 thousand rupees. I
from this. even paid it off, now I have got a loan
PM Svanidhi Yojana has been made simple by of 20 thousand also. In the digital
connecting with technology. No need to stand in age, people send money by scanning
line to submit papers, formalities can be completed my QR code, it reaches the account
by visiting Common Service Centre, Local Urban directly.
Body, or Bank. One can avail of an interest subsidy Najmin, Madhya Pradesh
of 7 percent by making timely loan payments and
adopting digital payments. Apart from this, the
program 'Svanidhi Se Samridhi' has also been linked
with 8 welfare schemes of the Government of India I sell Laiya, Chana, and Groundnut.
so that the life of street vendors becomes easier. After taking a loan of Rs 10,000,
This is the first time that lakhs of street vendors have bought one and a half times more
been truly connected to the system, they have got gram and groundnut. Earlier I
a new identity. The Svanidhi Yojana is an important had to go to the market, again and
step in the journey from self-employment to self- again, now I have started buying
reliance and gaining self-respect.
goods in bulk. Now instead of
every day, I go to the market once
a week.
Vijay Bahadur, Lucknow
New India Samachar June 16-30, 2022 47
