Prime Minister Narendra Modi is all set to disburse loans to three lakh street vendors. The loans were sanctioned under the Pradhan Mantri Street Ventures Atmanirbhar Nidhi Yojana (PM Swanidhi). On October 27, the Prime Minister will disburse loans to street vendors via video conference.
It is learned that the Prime Minister will be interacting with loan-eligible traders at the event. Under the PM Swanidhi scheme, street vendors can get up to Rs 10,000 in the capital. On June 1 this year, the Prime Minister inaugurated the Street Ventures Atmanirbhar Nidhi Yojana to help street vendors in distress due to the Covid crisis. The main objective of the project is to empower individuals in marginalized areas.
About 24 lakh applications have been received for assistance under this scheme. Of this, more than 12 lakh people have already been allotted grants. Loans to 5.35 lakh people have been disbursed so far.