Prime Minister Narendra Modi will distribute loans to nearly 300,000 street vendors under the PM SVANidhi (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Yojana) scheme via video conferencing on Tuesday. He will also communicate with the beneficiaries of the scheme on the occasion.
PM SVANidhi Scheme was launched on June 1, 2020 for poor people selling goods on roads and tracks, which were affected due to the coronavirus pandemic.
“I will interact with my brothers and sisters in Uttar Pradesh who sell goods on the roads. It will be an opportunity to find out how Pradhan Mantri Swanidhi Yojana gave them new strength, ”Prime Minister Modi tweeted on Monday.
Under the PM SVANidhi scheme, street vendors can obtain working capital of up to Rs 10,000 at subsidized rates. According to the ANI news agency, more than 24 lakh requests have been received under this scheme so far, with 557,000 requests from providers in Uttar Pradesh, the highest in the entire country.
Up to 3.27 lakh UP applications have been approved and a loan of 1.87 lakh has been disbursed, ANI said citing the website narendramodi.in. Of the total applications, 12 lakhs were approved and 5.35 lakh loans were disbursed, it added.
UP Prime Minister Yodi Adityanath is expected to attend the event.
(With contributions from the agency)
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