Mokokchung, 24 August (MTNews): The Government of Nagaland, through the State Urban Development Agency and the Directorate of Urban Development, has issued a notification regarding the Prime Minister Street Vendors’ Atmanirbhar Nidhi (PM SVANidhi) scheme. This Central Sector Scheme, which has been fully funded by the Ministry of Housing and Urban Affairs, offers a Special Micro-Credit facility to street vendors. It provides affordable loans through financial institutions at minimal interest rates since June 2020.
In alignment with this, the Ministry of Housing and Urban Affairs, Government of India, has initiated a three-month ‘PM SVANidhi Campaign’ running from 1 August to 31 October 2023, at both the state and urban local body levels. The objective of this campaign is to raise awareness among street vendors about the scheme’s benefits. This will be achieved through various Information, Education, and Communication (IEC) activities, including radio broadcasts, television advertisements, social media posts, and on-ground outreach initiatives. The aim of this initiative is to connect more street vendors with the scheme, as highlighted in a DIPR report.
PM Street Vendors’ Atmanirbhar Nidhi (PM SVANidhi) is a specialized micro-credit scheme designed to benefit 50 lakh street vendors across the nation. Launched in June 2020, the scheme provides working capital loans to street vendors, helping them to restart their businesses after the COVID-19 lockdown. By offering credit at affordable interest rates, the scheme promotes financial inclusion and self-reliance. Its user-friendly digital platform for application and approval has played a crucial role in aiding the economic recovery of street vendors. It not only supports vendors’ livelihoods but also contributes to the growth of local economies and urban development, the report stated.
For further information, individuals can contact the District Urban Development Agency in all the District Headquarters and Administrative Offices in the other 39 Urban Local Bodies. Alternatively, they can visit the websitewww.pmsvanidhi.mohua.gov.in, it added.