PM SVANidhi Scheme: 'Main Bhi Digital 3.0' Campaign for Digital Onboarding of Street Vendors

Table of Contents

PM SVANidhi Scheme- Relevance for UPSC Exam

GS Paper 2: Governance, Administration and Challenges- Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes.

PM SVANidhi Scheme– ‘Main Bhi Digital 3.0’ Campaign

Recently, the Ministry of Housing & Urban Affairs and the Ministry of Electronics & Information Technology (MeitY) jointly launched ‘Main Bhi Digital 3.0’ to complement the efforts of Lending Institutions in the adoption of digital transactions by the PM SVANidhi beneficiaries.

Government Schemes/Programmes for Welfare and Development of Minorities: Explained

‘Main Bhi Digital 3.0’ Campaign- key points

About: ‘Main Bhi Digital 3.0 campaign is aimed at digital onboarding of Street Vendors (SVs) who have already been provided loans under PM SVANidhi Scheme.
PM SVANidhi Scheme and ‘Main Bhi Digital 3.0’: Digital onboarding and training of Street Vendors (SVs) is an integral part of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme.
- Lending Institutions (LIs) have been instructed to issue a durable QR Code & UPI ID at the time of disbursement and train the beneficiaries in the conduct of digital transactions.

Digitalisation of Agricultural Sector: Steps by Government

PM SVANidhi Scheme: Micro Credit Scheme for Street Vendors

About: PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is a Special Micro-Credit Facility Scheme for providing affordable loans to street vendors.
Parent Ministry: PM SVANidhi scheme is being implemented by the Ministry of Housing and Urban Affairs. Urban Local Bodies will play a pivotal role in the implementation of the scheme.
Beneficiaries: over 50 lakh people, including vendors, hawkers, thelewalas, rehriwala, theliphadwala etc. in different areas/ contexts are likely to benefit from PM SVANidhi scheme.
- The goods supplied by them range from vegetables, fruits, ready-to-eat street foods, tea, pakodas, breads, eggs, textiles, apparel, footwear, artisan products, books/ stationaries etc.
- The services include barbershops, cobblers, pan shops, laundry services etc.
Implementation:
- An Integrated IT Platform has been developed for the implementation of the PM SVANidhi Scheme. The application process is fully online.
- Street Vendors can apply for loans directly through PM SVANidhi Portal. The application can also be submitted at Municipal Offices and Common Service Centres (CSCs).
- In addition, the SVs can approach municipal functionaries or representatives of Lending Institutions to apply through PM SVANidhi mobile App.
Providing Capital (Loan facility): The street vendors can avail of a working capital loan of up to Rs. 10,000, which is repayable in monthly installments within a year.
- This loan would be collateral-free and there will be no penalty on early repayment of the loan.