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PM Svanidhi

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Ashutosh Kumar
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43 views4 pages

PM Svanidhi

Uploaded by

Ashutosh Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Govt Schemes by Knowledgist

PM SVANidhi Scheme
 Pradhan Mantri Street Vendors’ Atma Nirbhar Nidhi Scheme (PM SVANidhi) is a
Central Sector Scheme.
 This scheme aims to facilitate collateral-free working capital term loan of up to
₹10,000 of 1 year tenure to Street Vendors, vending in urban areas, to resume their
businesses, adversely impacted by the pandemic.
 On prepayment or repayment, they are eligible for an enhanced working capital loan
of upto ₹20,000 and ₹50,000 in the second and third tranches respectively.
 Implementation - The Small Industries Development Bank of India (SIDBI) is the
scheme’s implementation agency. It is being implemented since June 2020.
 Eligibility - Street Vendors engaged in vending in urban areas as on or before March
24, 2020 are eligible for benefit under SVANidhi Scheme.
 The rate of interest subsidy 7%. The interest subsidy amount will be credited directly
in your account on quarterly basis. In case of early payment, the admissible amount
of subsidy will be credited in one go. For a loan of Rs10,000, if you pay all the 12
EMIs in time, you will get approximately Rs400 as interest subsidy amount.
 Interest Subsidy claims will be paid only for Standard accounts (non-NPA as per
extant RBI guidelines) on the respective claim dates and only for the period during
which the account has remained Standard.
 What is the amount of incentive for digital transactions?
Eligible Digital Transaction (EDT) to be a digital transaction of any value.
 Rs.1/- cashback per EDT till the first 50 EDTs.
 Rs.0.50/- per EDT for the next 50 EDTs
 Rs.0.25/- per EDT for the next 100 EDTs.

 Tenure:
Working Capital Term Loan (WCTL) loan with repayment in monthly instalments.
a) 1st Tranche: Maximum 12 months
b) 2nd Tranche: Maximum 18 months and Minimum repayment period of 6 months,
(to be eligible for the next cycle of loan with an enhanced limit. If the Street Vendor
repays the loan earlier, (S)he would have to wait till the minimum repayment
period fixed for the loan, before (S)he is eligible for next higher loan.)
c) 3rd Tranche: Upto Rs.50,000/- Maximum 36 months

 Other Points:

Lending under the PM SVANidhi Scheme is extended till December, 2024.


Credit Guarantee and Interest Subsidy claims on all loans will be paid till March,
2028.
No CGTMSE Guarantee fee for this scheme. CGTMSE Coverage is as below:

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Govt Schemes by Knowledgist

First Loss (up to 7.5%): 100% of default portfolio - Second Loss (beyond 7.5% & up to
20%): 75% of default portfolio. - Above 20% to 50% the Coverage is 50%.
Maximum guarantee coverage is 50% of the year portfolio and effective guarantee
coverage is 31.875% of the year portfolio.
All borrowers under this scheme should be allotted Rupay Debit card linked to their
saving account.

 The eligible vendors will be identified as per following criteria:

(i) Street vendors in possession of Certificate of Vending / Identity Card issued by


Urban Local Bodies (ULBs). PM SVANidhi 2.0- Revised guidelines Page 2 of
14
(ii) The vendors, who have been identified in the survey but have not been issued
Certificate of Vending / Identity Card. Provisional Certificate of Vending
would be generated for such vendors through an IT based Platform. ULBs are
supposed to issue such vendors the permanent Certificate of Vending and
Identification Card immediately and positively within a period of one month.
(iii) Street Vendors, left out of the ULB led identification survey or who have
started vending after completion of the survey and have been issued Letter of
Recommendation (LoR) to that effect by the ULB / Town Vending Committee
(TVC).
(iv) The vendors of surrounding development/ peri-urban / rural areas vending in
the geographical limits of the ULBs and have been issued Letter of
Recommendation (LoR) to that effect by the ULB / TVC

Top MCQs

1) What is the maximum loan amount & tenure under PM-Svanidhi Scheme for the 3rd Trench ?
a. 20000 & 12 Months
b. 30000 & 24 Months
c. 50000 & 24 Months
d. 50000 & 36 Months

2) What is the interest subsidy offered in PM Svanidhi Scheme ?


a. 3%
b. 5%
c. 7%
d. 9%

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Govt Schemes by Knowledgist

3) What is the CGTMSE Guarantee fee charged in PM Svanidhi Scheme ?


a. 0.03%
b. 1%
c. 1.2%
d. None

4) What is the incentive for first 50 Digital Transanction in PM Svanidhi Scheme ?


a. Rs1/-
b. Rs 0.5/-
c. Rs 0.25/-
d. None

5) What is the maximum loan amount & tenure under PM-Svanidhi Scheme for the 2nd Trench
?
a. 20000 & 12 Months
b. 20000 & 18 Months
c. 20000 & 24 Months
d. 50000 & 36 Months

6) Lending under the PM SVANidhi Scheme is extended till:


a. Dec 2023
b. Dec 2024
c. Dec 2025
d. Dec 2028

Answers:

1.d 2.c 3.d 4.a 5.b 6.b

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Govt Schemes by Knowledgist

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