How Did the PM SVANidhi Scheme Help a Khandwa Family?
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Synopsis
Join us as we explore how the PM SVANidhi scheme has drastically changed the life of a Khandwa family. Beneficiary Mohammad Wasim Khan shares his heartfelt gratitude and the impact of this initiative on his family business.
Key Takeaways
- PM SVANidhi scheme provides essential financial support to street vendors.
- Loans are collateral-free, making them accessible.
- Beneficiaries report significant improvements in their business operations.
- The scheme has been crucial for economic recovery post-COVID-19.
- Community outreach is vital for increasing awareness of the scheme.
New Delhi, Sep 17 (NationPress) On the momentous occasion of Prime Minister Narendra Modi’s 75th birthday, numerous beneficiaries of various central welfare initiatives throughout India are voicing their appreciation. One such individual is Mohammad Wasim Khan, an electrical technician and motor rewinding specialist from Khandwa, who attributes his transformation and the revival of his family’s legacy business to the PM SVANidhi Yojana.
"I took over my father’s workshop, but we struggled with inadequate tools. Often, I had to rely on borrowed equipment, which delayed my projects and hampered my earnings," Khan shared, now proudly running a fully equipped shop in Khandwa city.
“Upon discovering the PM SVANidhi scheme through the Khandwa Municipal Corporation, I applied for and received a loan of Rs 10,000. This allowed me to purchase necessary tools and rejuvenate my business. Now, I’m catering to more clients and my income has improved significantly. My family’s future is secure again. I am deeply grateful to Prime Minister Narendra Modi for this chance,” he expressed.
Initiated in June 2020 by the Ministry of Housing and Urban Affairs, the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is designed to provide collateral-free working capital loans to street vendors and small traders impacted by the COVID-19 pandemic.
The program allows vendors to access a loan of ₹10,000 in the first year, followed by ₹20,000 in the second year and ₹50,000 in the third year, contingent on timely repayments. Recently, an additional benefit of ₹5,000 has been incorporated, raising the initial disbursement to ₹15,000.
Discussing the scheme’s local influence, Mohammad Saeed Shah, City Mission Manager of Khandwa Municipal Corporation, remarked: “This scheme is truly a blessing for street vendors. In Khandwa, numerous beneficiaries like Wasim Khan have successfully revived and expanded their businesses. We are now offering ₹15,000 in the first year and ₹25,000 in the second, and I encourage more vendors to seize these opportunities.”
On PM Modi’s birthday, beneficiaries such as Wasim Khan express that they are not merely honoring a leader but also the transformative opportunities that his government’s initiatives have provided in their lives. For many small traders across India, PM SVANidhi represents not just financial aid, but restored dignity.
Point of View
I firmly believe that the PM SVANidhi scheme is a testament to the government's commitment to empowering small traders and street vendors. This initiative not only provides financial support but also restores the dignity of countless families, demonstrating a compassionate approach to economic recovery.
NationPress
20/09/2025
Frequently Asked Questions
What is the PM SVANidhi scheme?
The PM SVANidhi scheme is a government initiative aimed at providing collateral-free working capital loans to street vendors and small traders affected by the COVID-19 pandemic.
What are the loan amounts available under the scheme?
Vendors can access ₹10,000 in the first year, ₹20,000 in the second year, and ₹50,000 in the third year, based on timely repayments.
How has the scheme impacted beneficiaries like Mohammad Wasim Khan?
Beneficiaries like Mohammad Wasim Khan have successfully revived their businesses, improved their incomes, and secured their family's future thanks to the financial assistance provided by the scheme.
Who can apply for the PM SVANidhi scheme?
Street vendors and small traders who have been impacted by the COVID-19 pandemic are eligible to apply for this scheme.
How can vendors apply for the scheme?
Vendors can apply for the PM SVANidhi scheme through their local municipal corporation or online platforms designated by the government.
