To provide opportunity to start their work afresh, many initiatives have been launched by the government and now the government of India launched another program for all the road vendors which is called Svanidhi Yojana With the implementation of thius scheme, all the local vendors will get financial support to start their work more effectively no matter what they do. If you are interested to know who will get this opportunity and what are the benefits then you have to read this article till the end and get details such as benefits, eligibility criteria, features, registration process and other details as well.
The government of India launched Svanidhi Yojana to provide opportunity to enhance their work on high level high is available for all the road vendors. Under this, the government will cover all the local vendors such as hawkers thelewala rehriwala theliphadwala etc. in different areas/ contexts, and also vendors provide goods like vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, footwear, artisan products, books/ stationary etc., and services like barber shops, cobblers, pan shops, laundry services, etc.. As we all know, due to pandemic, these vendors face so many obstacles and they are still recovering from it, so if you think you are eligible for this scheme then you have to register yourself under this program through the link given in this article.
Key Highlights of Svanidhi Yojana
Name of the scheme
Government of India
All the beneficiaries will receive financial support from the government so that they can start re-establish their work.
Mode of application
Objective of Svanidhi Yojana
The main objective of this scheme is to provide opportunity to all the local vendors to restart their work in their specific criteria. Under this scheme the government will provide them financial support to all the vendors so that they can overcome obstacles. In this scheme, the govermebt will cover all the vendors such as hawkers thelewala rehriwala theliphadwala etc. in different areas/ contexts, and also vendors provide goods like vegetables, fruits, ready-to-eat street food tea pakodas breads eggs textile apparel footwear artisan products, books/ stationary etc., and services like barber shops, cobblers, pan shops, laundry services, and much more. Those who want to make a registration and get this opportunity can now register themselves under this scheme through the link given in this article and get the opportunity.
Benefits of Svanidhi Yojana
This scheme will provide benefits for more than 1.2 crore vendors across India by providing them benefits of 1000 rupees to directly their bank accounts.
With the help of this initiative, beneficiaries no longer to pay any security for the loan and the repayment of loans will be for 1 year.
Those who get the opportunity and they pay the repayment before the time, then the government will provide them another 1000 rupees for next year.
All the selected beneficiaries will get subsidy on the interest of the loan for up to 7% and the anount of subsidy will be directly transferred to their bank accounts.
Loan Provided Organizations
Scheduled commercial bank
Regional rural bank
Small finance Bank
Nonbanking financial company
1st term Loan
2nd term Loan
3rd term Loan
Pending for consent and Re KYC
Returned By Banks
Those vendors who are certified and have valid identity card are eligible for this opportunity.
Those who don’t have certificate can apply for it through municipality.
Those vendors who are residing and active in and around in peri urban and rural areas are also eligible for this scheme.
Those vendors who have left their work due to pandemic are also considered to be eligible for this scheme.
Required Documents List
Voter ID card
Bank account details
Passport size image
Registration Procedure Under Svanidhi Scheme
To make a registration process, you have to go to the Official Website of the scheme.
After reaching to the homepage, tap on Apply Loan option and continue.
After this, you have to enter your mobile number on the section and submit it.
You will receive an OTP on your registered mobile number enter it and continue.
After that, the application form will open on your screen.
Now you have to fill all the important details on it and also attach the documents.