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Thursday, April 28, 2022

Extend the deadline of PM Swanidhi Yojana, know how long you will get guarantee free loan?

 Extend the deadline of PM Swanidhi Yojana, know how long you will get guarantee free loan? 

PM Svanidhi Scheme: The central government has given a big relief to street vendors.  The government yesterday extended the term of Prime Minister's Street Vendors Self-Reliant Fund (PM Svanidhi Yojana).  The term of the scheme was earlier only till March 2022, but the government has extended the term of the scheme in the Union Cabinet meeting held on Wednesday.
Term extended to December 2024

 Let me tell you that the government has extended the tenure of PM Swanidhi Yojana till December 2024.  The decision was taken at yesterday's meeting.  Union Minister Anurag Thakur tweeted about this.

 Get a loan without a guarantee

 Under the PM Swanidhi scheme, the government provides loans of Rs 10,000 to street vendors.  Let me tell you that under this scheme the government provides loans to the needy without any guarantee.  You do not even need to provide any guarantee for this loan.  At the same time, if you repay the loan on time, you will also get a subsidy from the government.

 Who benefits from the scheme?

 The benefit of this scheme can be availed by barber shop, cobbler, tailor, laundress, vegetable seller, fruit seller, street food, tea stall or kiosk, bread pakoda or egg seller, hawker, stationery seller.

 The loan can be repaid in one year

 The loan received under this scheme is discounted on interest rate.  The loan amount is transferred on installment basis in three months.  This is collateral free loan i.e. free business loan without guarantee.  You can repay this loan every month.  The government gives you one year to repay this loan.

 You can check the official link

For more information about this loan, you can visit this link
Street vendors represent a very important constituent of the urban informal economy and play a significant role in ensuring availability of the goods and services at affordable rates at the door-step of the city dwellers. They are known as vendors, hawkers, thelewala, rehriwala, theliphadwala etc. in different areas/ contexts. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, footwear, artisan products, books/ stationary etc. The services include barber shops, cobblers, pan shops, laundry services etc. The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors. They usually work with a small capital base and might have consumed the same during the lockdown. Therefore, there is an urgent need to provide credit for working capital to street vendors to resume their business.
The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the following objectives: (i) To facilitate working capital loan up to `10,000; (ii) To incentivize regular repayment; and (iii) To reward digital transactions

The scheme will help formalize the street vendors with above objectives and will open up new opportunities to this sector to move up the economic ladder.
The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. Beneficiaries from Meghalaya, which has its own State Street Vendors Act may, however, participate.
The Scheme is available to all street vendors engaged in vending in urban areas as on or before March 24, 2020. The eligible vendors will be identified as per following criteria:

(i) Street vendors in possession of Certificate of Vending / Identity Card issued by Urban

Local Bodies (ULBs); (ii) The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card;

Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month.

(iii) Street Vendors, left out of the ULBled identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and

In case of Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks SHG Banks, the rates will be as per their prevailing rates of interest. In case of NBFC, NBFC-MFIs etc., interest rates will be as per RBI guidelines for respective lender category. In respect of MFIs (non NBFC) other lender categories not covered under the RBI guidelines, interest rates under the scheme would be applicable as per the extant RBI guidelines for NBFC-MFIs.
The vendors, availing loan under the scheme, are eligible to get an interest subsidy @@ 7%. The interest subsidy amount will be credited into the borrower’s account quarterly. Lenders will submit quarterly claims for interest subsidy for quarters ending as on June 30, September 30, December 31 and March 31 during each financial year. Subsidy will only be considered in respect of accounts of borrowers, which are Standard (non-NPA as per extant RBI guidelines) on respective claim dates and only for those months during which the account has remained Standard in the concerned quarter. The interest subsidy is available up to March 31, 2022. The subsidy will be available on first and subsequent enhanced loans up to that date. In case of early payment, the admissible amount of subsidy will be credited in one go.

8.3 Promotion of Digital Transactions by Vendors The scheme will incentivize digital transactions by vendors through cash back facility.
Extend the deadline of PM Swanidhi Yojana, know how long you will get guarantee free loan?
PM સ્વનિધિ યોજનાની સમયમર્યાદા વધારી, જાણો કેટલા સમય સુધી મળશે ગેરંટી ફ્રી લોન?
P.M. POSHAN ( M.D.M ) યોજના હેઠળ આવરી લેવાયેલ શાળાઓમાં સ્વચ્છ અને ગુણવતા - યુકત ભોજન આપવા સબંધે તકેદારી / ચકાસણી રાખવા બાબત 
પરિપત્ર પેજ 1 click here to Download
પેજ 3 click here to Download 
અઠવાડિક મેનુ બાબત પરિપત્ર

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