Prime Minister Narendra Modi on Tuesday will distribute loans to nearly 300,000 street vendors under the PM SVANidhi Scheme (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi Yojana).
The distribution will be done through video conferencing, where he will also communicate with beneficiaries of the scheme on the occasion.
The PM SVANidhi Scheme was launched on June 1, 2020, for poor people selling goods on roads and tracks, who were affected due to the coronavirus pandemic.
“Will interact with my brothers and sisters from Uttar Pradesh who sell goods on roads. It will be an opportunity to know how Pradhan Mantri Swanidhi Yojana gave new strength to them,” PM Modi tweeted on Monday.
Under this scheme, street vendors can get working capital of up to Rs 10,000 at subsidized rates. Over 24 lakh applications have been received under this scheme so far, with 557,000 applications from vendors in Uttar Pradesh, the highest across the country.
As many as 3.27 lakh applications from UP have been approved and a loan of 1.87 lakh has been disbursed. Out of the total applications, 12 lakhs have been approved and loans worth about 5.35 lakh have been disbursed.
Chief Minister of Uttar Pradesh, Yogi Adityanath is also expected to attend the event.
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