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13th April 2022 (6 Topics)

Housing and Urban Affairs Ministry launches 'SVANidhi se Samriddhi'


Housing and Urban Affairs Ministry launched 'SVANidhi se Samriddhi' program in additional 126 cities across 14 States and Union Territories yesterday.


About ‘SVANidhi se Samriddhi’:

  • SVANidhi se Samriddhi’ is an additional program of PMSVANidhi.
  • It was launched in January 2021 in 125 cities.
  • In Phase 1, approximately 35 Lakh Street vendors and their families were covered.
  • 5 lakh scheme sanctions have been extended to them including 
  • 16 lakh insurance benefits under Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeeban Jyoti Yojana and
  • 7 Lakh pension benefits under Pradhan Mantri Shram Yogi Maandhan Yojana, amongst other such benefits. 
  • Considering the success of Phase I, MoHUA launched the program expansion to additional 126 cities with an aim to cover 28 Lakh Street vendors and their families, with a total target of 20 Lakh scheme sanctions for FY 2022-23.
  • The remaining cities would be gradually added to the program.


  • PM SVANiDHI is a special micro-credit facility plan to provide affordable loan of up to Rs. 10,000 to more than 50 lakh street vendors, who had their businesses operational on or before 24 March.
  • PM SVANidhi, a Central Sector Scheme since 1st June 2020.
  • It was announced aims to enable street vendors to resume their livelihoods, which have been hit hard due to the national lockdown.
  • Small Industries Development Bank of India is the technical partner for implementation of this scheme and will manage the credit guarantee to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises.
  • Under the scheme, vendors can avail working capital loan of up to Rs10,000, which is repayable in monthly instalments within one year.
  • On timely/early repayment of the loan, an interest subsidy of 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer (DBT) on six-month basis.
  • There will be no penalty on early repayment of loan.
  • The scheme aims to not only extend loans to street vendors, but also aims for their holistic development and economic upliftment.

Two-fold achievements:

  • One, a central database of Street vendors and their families is created on various socio-economic indicators.
  • Second, a first of its kind inter-ministerial convergence platform is established between various Central Ministries to extend safety net of welfare schemes to street vendor households.

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