Synopsis
The PM SVANidhi scheme is transforming the lives of small traders in Chhattisgarh's Gaurela-Pendra-Marwahi district by providing crucial financial support during the post-pandemic recovery phase. Beneficiaries like Pramod Singh Thakur highlight the scheme's impact on rebuilding livelihoods.Key Takeaways
- PM SVANidhi scheme aids small traders.
- Collateral-free loans with flexible terms.
- Over 50 lakh vendors targeted for support.
- Beneficiary success stories inspire others.
- Eligibility includes various street vending activities.
Gaurela-Pendra-Marwahi (Chhattisgarh), March 10 (NationPress) Small traders in Chhattisgarh's Gaurela-Pendra-Marwahi district are benefiting from the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme. This program has offered essential financial support to vendors who faced challenges during the COVID-19 pandemic and sought help to revive their businesses.
One notable beneficiary, Pramod Singh Thakur, a tea shop proprietor from Gaurela-Pendra-Marwahi, shared his inspiring journey with IANS.
Thakur obtained an initial loan of Rs 10,000 under the scheme, which he utilized to rejuvenate his tea shop. After successfully repaying the first loan, he was granted a second loan of Rs 20,000 to expand his enterprise. Thakur expressed his appreciation for the scheme, stating it allowed him to restore his business and personal life.
"I lost everything when the pandemic hit. My business was shut down, and I didn’t know how to start over. Then the PM SVANidhi came, offering a loan of Rs 10,000. I used it to restart my work, and slowly, I was able to get back on my feet. Now, with the second loan of Rs 20,000, my business is thriving again. PM Modi's scheme has been a game-changer for me," Thakur noted.
The PM SVANidhi scheme, initiated by the Ministry of Housing and Urban Affairs in June 2020, is a micro-credit initiative designed to assist street vendors. The program provides collateral-free loans with flexible repayment options, simplifying access to financial aid for small traders.
The scheme comprises three loan cycles: Rs 10,000 for the first cycle, Rs 20,000 for the second, and Rs 50,000 for the third. Repayment terms are adaptable, and interest subsidies are available until March 2028. The government aims to extend support to approximately 50 lakh vendors nationwide.
Any street vendor operating in urban areas as of March 24, 2020, selling goods like fruits, vegetables, and ready-to-eat street food, or providing services such as barbershops and laundry, is eligible. Even those without a vending certificate can apply and receive a provisional certificate after a local inquiry.
