1 lakh loans sanctioned for street vendors

Scheme targets 50 lakh beneficiaries

NEW DELHI, 26/03/2020: A street vendor seen wearing protecting mask as wait for customer at a deserted Mahatma Gandhi Marg near Azadpur Sabzi Mandi, during on 2nd day of 21st days complete lockdown due to corona virus, in New Delhi on March 26, 2020. Photo By Shiv Kumar Pushpakar / The Hindu

The Union Housing and Urban Affairs Ministry on Wednesday said over 5 lakh applications had been received under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme for street vendors since it started on July 2 and 1 lakh loans had been sanctioned already.

Economic relief package

The scheme, which was a part of the government’s economic relief package announced in the wake of the COVID-19 pandemic, gives street vendors working capital loans of up to ₹10,000 to be paid back in one year.

The MoHUA statement said the scheme was meant to benefit 50 lakh street vendors across the country resume work after the lockdown.