PM SVANidhi: Over 1 Crore Loans Worth ₹17,115 Crore Given
Why in the news
The PM SVANidhi scheme has crossed a notable lending mark, with street vendors across cities receiving loans in large numbers.
Key facts
- Loans disbursed: more than one crore.
- Total amount: ₹17,115 crore, as reported.
- Launch: June 2020.
- Loan type: collateral-free working capital term loan.
- Target group: urban street vendors.
| Parameter | Detail |
|---|---|
| Scheme | PM SVANidhi |
| Beneficiaries | Urban street vendors |
| Loan nature | Working capital, term loan, no collateral |
| Disbursed so far | Over 1 crore loans, ₹17,115 crore |
About the scheme
PM SVANidhi is a lending support programme aimed at urban street vendors, giving them working capital without asking for any security.
Exam angle
- Launched in: June 2020.
- Type of credit: collateral-free working capital term loan.
- Beneficiary: urban street vendors.