How to apply online for Prime Minister Street Vendor’s Atmanbir Nidhi (PM SVANidhi) Scheme 2020 online application / registration form, eligibility, implementation, list of beneficiaries – Rs. 10,000 loans under Pradhan Mantri Awas Yojana
The Central Government of India has launched a new Prime Minister Street Vendor Atimanbir Fund (PM SVANidhi) scheme on 1 June 2020. Under this Pradhan Mantri Pradhan Mantri Yojana, the Union Government will provide short term loans up to Rs. Rehri / Pitri Valley (Ferewala) since 10,000. The scheme was first announced by FM Nirmala Sitharaman at Rs. Autonomous India campaign package of 20 lakh crores. People have to apply online on the official website (to be launched) of PM Street Vendor Atmanbir Nidhi Yojana or can apply offline in banks for getting initial working capital loan.
SVANidhi Yojana 2020
दोस्तों की योजना हमारे प्रिय प्रधानमंत्री द्वारा स्ट्रीट वेंडर्स के लिए निकाली गई है। उनका कहना है कि जो बिचारे रेहरी और पटरी वाले हैं, उन्हें लॉग डाउन की वजह से अपना रोजगार खो चुके हैं और बेरोजगार हो चुके हैं उन्हें ₹10000 ऋण के रूप में प्रदान करें जाएंगे यह पीएम स्वनिधि योजना 2020 1 जून 2020 से आरंभ कर दी गई है। हमारे प्रिय प्रधानमंत्री का मानना है कि स्ट्रीट वेंडर्स ऋण के माध्यम से अपना व्यापार दोबारा शुरू कर पाएंगे और आत्मनिर्भर होने का हौसला रखेंगे। अभी तो इसकी ऑनलाइन प्रक्रिया स्टार्ट नहीं हुई है, पर प्रिय प्रधानमंत्री द्वारा कहा गया है कि स्ट्रीट वेंडर आत्मनिर्भर निधि योजना में आप ऑफलाइन आवेदन अपने नजदीकी बैंक जाकर जरूर करवा सकते हैं।
The main objective of PM Street Vendor’s Aatmirnibh Nidhi Yojana is to ensure that daily wage earners like vegetable sellers, fruit sellers earn their livelihood. These short term assistance is Rs. 10,000 will enable small street vendors to resume their work which is badly affected due to coronavirus (COVID-19) lockdown.
PM SVANidhi Scheme 2020
To provide an initial working capital loan of Rs. 10,000, Govt. Has launched the PM Street Vendor Atmanbir Nidhi (PM SVANidhi) scheme. The online process for the street vendor self-reliance scheme has not yet been specified. It is expected that applicants have to either fill the PM SVANidhi online application form by applying offline for the Prime Minister Street Vendor Atmanibar Nidhi Yojana in banks or can also avail loans. Here is the complete information about the PM SVANidhi scheme launched on 1 June 2020 by Prakash Javadekar.
Commercial banks will face difficulty in disbursing loans
The recently announced announcement of the Central Government’s offer of Rs 10,000 loans to Pherevala (Ferrywalla) under the PMSVA fund scheme would put commercial banks in trouble. This is because commercial banks have no previous experience in rejecting loans of such small size in urban agglomerations. The new PM Street Vendor Self-reliance scheme proposes a bank loan facility by 2020 for an initial working capital of Rs. 10,000 for each vendor.
In the nationwide coronavirus (COVID-19) lockdown, street vendors suffered the most because they are daily earners. This Rewari / Tracked Loan Scheme (Render / Tracked Loan Scheme) will cover urban as well as rural vendors doing business in the surrounding urban areas. However, mainstream bankers are not enthused by the expansion of such a small amount under the PM Street Vendor Atmanbir Nidhi (PM SVANidhi) scheme.
Beneficiaries of PM SVANidhi Yojana
According to preliminary data collected from the state governments, around 50 lakh street vendors will be benefited from the PM Street Vendor Atmanibhar (PM SVANidhi) scheme. Central government. Will increase credit flow of Rs. 5,000 crore to the sector. In addition, street vendors who use digital payments and timely repayment will be encouraged through monetary rewards.
It is important to mention that only a fraction of those 50 lakh phereevaala can have a credit history with commercial banks as the banks had no product for the sector. Its main objective is to make street vendors self-reliant and not fall into the debt trap of lenders for such small amounts.
Difficulty in credit assessment for street vendors without credit history
It is of major concern how to conduct a credit assessment for an entity without any credit history. According to some bankers, self-help group model can be followed to expand credit in rural areas, which is given below: –
A) In this model, a rural area comprises mostly female borrowers with 10–12 individuals from the neighborhood.
B) Here the group members can take responsibility for timely repayment by other members. Before starting saving, these groups are required to show the habit of saving for at least 6 months.
Problems for Pradhan Mantri Awas Yojana in Self Help Group (SHG) model
The main problem in the SHG model for the PM Street Vendor Atmanbir Nidhi (PM SVANidhi) scheme is that it is not possible to create such a cluster in urban areas. People in urban areas are feared to be guarantors of another borrower in the group. Also, there is no time to make a habit of saving because the seller needs a loan immediately.
Small finance banks, MFIs can disburse loans faster
It is believed that micro finance institutes (MFIs) and small finance banks that focus on lending to the urban poor can become key players to make the Street Vendor Loan Scheme a success. SFB and micro-finance institutions have clients who belong to these communities and specialize in small ticket lending.
Implementing the Prime Minister PM Street Vendor Atmanbir Nidhi (PM SVANidhi) Scheme
To make the Street Loan Vendor Scheme 2020 (ten thousand hawker loan scheme) acceptable to lenders, some main aspects should be kept in mind: –
- Interest Rate – There is a need to impose an interest cap for such loans which should be combined with the cost of money. Ideally, it should be linked to the MCLR [marginal cost based lending rate] rather than the government setting a particular rate.
- Speedy Disbursal – The success of this scheme depends on the speed at which the loan is disbursed. For this purpose, Govt. The documentation will have to be kept short and simple. It should be a single page document because the purpose of the loan is the speed and convenience at which it is distributed. If the borrower moves around for a week, they will lose interest. Therefore, customer happiness is one of the important implementation strategy.
- Credit Guarantee – Loans under this scheme are likely to be under the Mudra scheme. The Mudra loan is guaranteed by the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE). Getting claims for CGTMSE is not easy in the event of default. Many questions are asked for settlement of claims as well as a loan appraisal report. Hence in the case of NPAs, these loans would be a loss for the bankers.
- Claim Settlement Criteria – To protect bankers from losses, CGTMSE should clearly state the claim settlement criteria. A deadline must be specified within which a claim must be paid and if not, interest must accrue.
It is important that the Street Loan Vendor Scheme 2020 mechanism is effective. The Finance Ministry is expected to expand the ten Hazari Feriwala loan scheme in the next few days.
पीएम स्वनिधि योजना 2020 के लाभार्थी
पीएम स्वनिधि योजना 2020 मैं काफी लाभार्थी शामिल होंगे। जिनको इस स्कीम का लाभ मिलेगा वह है।
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