Delighted to launch Mobile App of PM Street Vendor’s AtmaNirbhar Nidhi, #PMSVANidhi Scheme today. This App will provide user friendly digital interface for Lending Institutions & their field functionaries for sourcing & processing loan applications of street vendors.
#PMSVANidhi was launched on June 1, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoods affected due to lockdown. It will benefit over 50 lakhs Urban Street Vendors across India from urban or surrounding peri-urban/rural areas.
Ministry launched Web Portal on 2 July for end-to-end implementation of Scheme. This App has all the functionalities of #PMSVANidhi Web Portal with feature of easy portability. It facilitates vendor search against survey data, application processing, e-KYC & real time monitoring.
PM SVANidhi Mobile App will boost use of digital technology & enable field functionaries of Lending Institutions like Banking Business Correspondents & Agents of Non-Banking Financial Companies/Micro-Finance Institutions, to reach out to maximum beneficiaries.
I am happy to share that in last 15 days since 2nd July ie the commencement of lending process of #PMSVANidhi more than 1,05,000 Street Vendors have applied and over 48,000 have been sanctioned working capital loans across the country.
Through this Scheme vendors can achieve their ambition of going up on the economic ladder by availing the facility of enhancement of the credit limit on timely/ early repayment of loan & assist in realising the goal of #AtmaNirbharBharat.
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