PM SVANIDHI
Parliamentary panel selects 25 subjects for review of urban development, Delhi projects
Under the Department of Urban Development, the committee will examine rainwater harvesting initiatives, legacy waste remediation, functioning of Smart City Integrated Command and Control Centres, and affordable rental housing projects.
Finmin asks pvt banks to increase participation in govt's financial inclusion schemes
The Finance Ministry on Tuesday asked private sector banks to step up participation in financial inclusion schemes, including PMMY and Stand Up India. Financial Services Secretary Sanjay Lohiya urged banks to support the upcoming saturation campaign, expand digital outreach, improve loan processing, strengthen insurance claim awareness and address grievances.
Finmin to meet heads of banks on Tuesday to review progress of financial inclusion scheme
A meeting involving bank heads is scheduled for Tuesday to assess the progress of financial inclusion schemes. Key initiatives include Pradhan Mantri Jan Dhan Yojana and Pradhan Mantri Mudra Yojana, which support small enterprises. Other schemes such as PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana offer insurance coverage for different age groups. The StandUp India Scheme focuses on empowering SC, ST, and women borrowers.
UPI charges from October 15: FAQs on who will pay 0.4% MDR and what consumers, small vendors & large merchants need to know
UPI Payment: UPI transactions of up to Rs 2,000 will continue to be free for users. A new Merchant Discount Rate (MDR) will be introduced for certain merchant transactions above Rs 2,000. The revised framework is aimed at supporting investments in UPI infrastructure, innovation and cybersecurity. Most person-to-merchant (P2M) transactions are expected to remain unaffected. The new provisions will come into effect from October 15, 2026.
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137th Mann Ki Baat: PM Modi highlights history website, backs drug-free youth campaign
Prime Minister Narendra Modi discussed a website detailing historical rulers of Bharat. He also highlighted the 'Nasha Mukt Yuva for Viksit Bharat' campaign's progress. This initiative aims to create drug-free youth and a drug-free nation. The campaign is gaining momentum across the country with significant youth participation. It represents a collective resolve for the well-being and future of India's youth.
'Trust, dignity, empowerment': PM Modi celebrates six years of PM SVANidhi scheme, empowers street vendors
Prime Minister Modi on X posted, "Today we mark #6YearsofPMSVANidhi, a scheme which has transformed the lives of countless street vendors by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth. This scheme is all about trust, dignity and empowerment. My best wishes to all beneficiaries whose determination and enterprise continue to strengthen our nation's economy."
Street vendors earn more, go digital under PM-SVANidhi
The PM-SVANidhi scheme has significantly boosted street vendor incomes by 20%. Digital transactions by vendors have nearly doubled, reaching over 83%. The scheme provides collateral-free loans, with 1.05 crore loans disbursed. Defaults are low, and many vendors are now accessing loans from other banks, building a permanent credit history. The scheme aims to disburse 1.5 crore loans.
HUA ministry gets Rs 85,522 crore in Union Budget; PM SVANidhi allocation up by 57%
The Union Housing and Urban Affairs Ministry receives a substantial Rs 85,522.39 crore in the Union Budget. The PM SVANidhi scheme for street vendors sees a significant 57 percent increase, receiving Rs 900 crore. The Pradhan Mantri Awas Yojana (Urban) also gets a considerable allocation. Funds are earmarked for urban development projects and missions.
PM Modi launches big development projects in poll-bound Kerala, flags off four new trains
Prime Minister Narendra Modi launched significant development projects and new train services in Kerala, bolstering infrastructure and financial inclusion. He inaugurated a modern post office and disbursed PM SVANidhi loans, alongside flagging off four new trains to enhance regional connectivity.
Union Cabinet approves restructuring, extension of PM SVANidhi scheme for street vendors
The Union Cabinet has extended the PM SVANidhi scheme until March 31, 2030, with a Rs 7,332 crore outlay, benefiting 1.15 crore vendors. Loan limits are increased, and UPI-linked RuPay credit cards are introduced for timely repayment.
PFRDA targets to bring 50 lakh SVANidhi scheme beneficiaries under Atal Pension Yojana
PFRDA aims to enroll 5 million PM SVANidhi beneficiaries in the Atal Pension Yojana (APY), leveraging the success of the micro-credit scheme for street vendors. With high loan repayment rates observed under PM SVANidhi, PFRDA sees a significant opportunity to expand APY's reach, particularly among women, as the scheme continues to add over a crore subscribers annually.
Street vendors to get credit cards, bigger loans
The PM SVANidhi scheme is being revamped to offer street vendors higher subsidised loans and UPI-linked credit cards with a limit of Rs 30,000. Banks will facilitate these credit cards for vendors who have successfully repaid initial loan tranches.
Boost in urban infrastructure: HUA ministry allocated Rs 96,777 cr in Budget 2025-26
The Indian government increases the Union Housing and Urban Affairs Ministry's budget allocation by 18% to Rs 96,777 crore for FY 2025-26. Key initiatives include an Urban Challenge Fund of Rs 1 lakh crore, enhanced loans under the PM SVANidhi scheme, and substantial provisions for Pradhan Mantri Awas Yojana and Urban Rejuvenation Mission.
Will revamp PM SVANidhi scheme for street vendors: Sitharaman in Budget speech
The PM SVANidhi scheme for street vendors, as presented by Union Finance Minister Nirmala Sitharaman, will be revamped with increased loan options and UPI-linked credit cards, offering a Rs 30,000 limit. The scheme has already aided over 68 lakh street vendors, providing relief from high-interest loans. The enhancements aim to build on this success with additional support and opportunities.
Finmin to meet heads of banks on Jan 15 to review financial inclusion schemes
Heads of Public Sector Banks (PSBs) will meet on Wednesday to review progress on financial inclusion schemes like Jan Suraksha, Mudra Yojana, and PM SVANidhi. The meeting, chaired by Financial Services Secretary M Nagaraju, will also focus on the StandUp India Scheme and various insurance-driven initiatives.
Rs 13,422 crore disbursed to street vendors under PM SVANidhi scheme, Rajya Sabha told
The Union Housing Ministry disbursed over 94 lakh loans, totaling Rs 13,422 crore, to street vendors under the PM SVANidhi scheme. Over 40 lakh loans have been repaid. The scheme, launched in 2020, provides collateral-free loans up to Rs 50,000. States are categorized and ranked based on disbursement performance, with Madhya Pradesh and Assam leading in July 2024.
UP govt appoints street vendors as brand ambassadors under PM SVANidhi Scheme
The Uttar Pradesh government appointed street vendors as brand ambassadors. The government aims to empower street vendors and acknowledge their role in society. The initiative includes the 'SVANidhi Bhi, Swabhiman Bhi' fortnight. The government is encouraging digital transactions and honoring vendors using digital platforms. Free medical camps will be held for vendors and their families.
Centre paid Rs 147.82 crore in interest subsidy on loans under PM SVANidhi
The central government has paid Rs 147.82 crore in interest subsidy to street vendors under PM SVANidhi scheme since it began in 2020 and till March 31, the Ministry of Housing Affairs informed.
PM Modi to address PM SVANidhi beneficiaries in Delhi
Prime Minister Narendra Modi will address beneficiaries of the PM SVANidhi scheme at the Jawaharlal Nehru Stadium here on Thursday, his office said. He will also distribute loans under the scheme to 1 lakh street vendors (SVs), including 5,000 SVs from Delhi on this occasion, a statement issued by the Prime Minister's Office said.
Interim Budget 2024: Over 75 lakh vendors helped due to PM SVANIDHI, says FM Nirmala Sitharaman
"PM SVANIDHI has provided credit assistance to 78 lakh street vendors, from that total, 2.3 lakh have received credit for the third time PM JANMAN Yojana reaches out Particularly Vulnerable Tribal Groups PM Vishakarma Yojana provides end to end support to artisans and craftspeople Scheme for empowerment of Divyang and transgender people reflects our resolve to leave no one behind," the Finance Minister said while presenting the interim Budget 2024-25
Loans worth Rs 9,790 crore disbursed to street vendors under PM SVANidhi scheme: Government in Rajya Sabha
"This scheme is available pan-India in all urban local bodies," Union Housing and Urban Affairs Minister Hardeep Singh Puri said while replying to a supplementary question. All street vendors in urban areas are eligible for benefits under the PM SVANidhi Scheme, irrespective of the date on which they started vending.
Assam pioneers in implementing PM SVANidhi scheme, with disbursement rate of 90.84%
Assam has been recognized as the leader in implementing the Pradhan Mantri Street Vendors' AtmaNirbhar Nidhi (PM SVANidhi) Scheme, with a disbursement percentage of 90.84% as of September 1, 2023. The scheme, launched by Prime Minister Narendra Modi, aims to provide collateral-free working capital loans to street vendors, hawkers, and small traders affected by the pandemic.
Assam tops North-East states in implementation of PM SVANidhi scheme
After reviewing the progress of PM SVANidhi scheme in the Northeastern states here, Karad appealed to the banks to accelerate coverage of SVANidhi loans to the poor. “Banks should fund the unfunded on priority,” he stressed. The Minister further advised to organise camps at village levels to provide various Banking services.
Only 40% street vendors repay working capital loan given during Covid-19
The scheme was initiated in July 2020 to help street vendors hit by Covid-19. Under the scheme, street vendors were offered loans in three tranches: '10,000, '20,000 and '50,000.
PM SVANidhi scheme to continue till December 2024
"Today's approval has increased the loan amount to Rs 8,100 crore, thereby providing the street vendors working capital to further expand their business and making them AtmaNirbhar," the statement said.
RBI extends PIDF scheme to street vendors covered under PM SVANidhi in tier 1, 2 centres
The Payments Infrastructure Development Fund (PIDF) scheme, with a corpus of Rs 345 crore, envisages creating 30 lakh new touch points every year for digital payments in tier-3 to tier-6 centres. The scheme, operationalised in January this year, has now been extended to select street vendors in tier 1 and 2 centres.
PM Modi to interact with beneficiaries of PM SVANidhi scheme for street vendors
PM Street Vendor's Atmanirbhar Nidhi (PM SVANidhi) scheme was launched on June 1 to help street vendors resume their livelihood activities. Till date, a total of more than 24 lakh applications have been received under the scheme, out of which, more than 12 lakh have been sanctioned and about 5.35 lakh loans disbursed.
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