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.
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