Cabinet has approved the continuation of PM SVANidhi

Solution

Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi, today has approved the continuation of lending under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) beyond March 2022 till December 2024. The Scheme had envisaged to facilitate loans for an amount of Rs. 5,000 crore. This 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. Under PM SVANidhi, significant achievements have already been made. As on April 25, 2022, 31.9 lakh loans have been sanctioned and 29.6 lakh loans amounting to Rs. 2,931 crore have been disbursed.