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What is PM Swanidhi Yojana? Know who can take advantage of this scheme?

Government is giving easy loan of Rs 10000 to start your business – PM SVaNidhi Yojana

PMSY: What is PM Swanidhi Yojana? Know who can take advantage of this scheme

Pradhan Mantri Swanidhi Yojana 2023 (Application Process, Eligibility, List) (PM SVaNidhi Yojana in Hindi)


PM Svanidhi Yojana: During the Corona crisis, when the lockdown was done in the country, many people had to leave their jobs and go to their native places. ) was started. Loan is given from the bank through PM Svanidhi Yojana, on which interest subsidy is available.

What is PM Swanidhi Yojana

Under PM Svanidhi Yojana, people selling goods on street vendors or doing other small jobs can take a loan of up to ₹ 10,000 from the bank. After repaying the loan taken in the first time, the beneficiaries of PM Svanidhi Yojana can get a loan of up to 20,000 in the second time and 50,000 in the third time.


Under the PM Swanidhi Yojana (PM Svanidhi Yojana), to encourage digital transactions, people selling street-street goods are provided with qr-code training and cashback etc.


The Central Government has extended the period for taking loan under PM Svanidhi Yojana, giving great relief to the people doing business on the street. The tenure of Swanidhi scheme was earlier till March 2022, but the government has extended the deadline of Swanidhi scheme. The government has extended the period for taking loan under PM Svanidhi Yojana till December 2024. Union Minister Anurag Thakur has given information by tweeting about extending the loan period under the PM Swanidhi scheme.



What is PM Swanidhi Yojana?

PM Swanidhi Scheme

PM SVANidhi Yojana: The Central Government (Modi Government) keeps coming up with different schemes for the poor people of the country. Through this scheme, the government provides economic and social security to the people. The name of such a scheme is Pradhan Mantri Street Vendors Self-Reliant Scheme (PM SVANidhi Yojana). This scheme was started on 2 July 2020. Through this scheme, the government provides loan facility to the people who set up street vendors before 24 March 2020. These people remain guarantee free.


Earlier the deadline for this loan was fixed till March 2022, which has now been extended till December 2024. A lockdown was imposed in the country in March 2020 after the onset of the Corona epidemic. The biggest impact of this was on the laborers and street vendors.


In such a situation, the government had started the PM Swanidhi Yojana to help these people, through which the government has started the facility of giving a guarantee free loan of Rs 10,000 to the street vendors. . Under this scheme, people have to return the loan in 1 year. If you return this loan within a year after taking it, then you can get a loan of Rs 20,000 for the second time and Rs 50,000 for the third time.



Guarantee free loan is for 1 year

According to the data released by the government, so far the government has distributed loans worth Rs 3,628 crore to more than 34 lakh street vendors under the PM Swanidhi scheme. The government also gives this loan without any guarantee. If you repay the loan in one year, then you also get an interest subsidy of 7 percent per annum. In this case, you get a total cashback of Rs 1200 in your account.



Businesses receiving loans under Pradhan Mantri Swanidhi Yojana

Under the Pradhan Mantri Swanidhi Yojana, a loan amount of Rs 10,000 is provided to people doing some small business. These businesses can be any of the following such as –


  • fruit and vegetable shop

  • street food stalls

  • sandal and shoe stitching work

  • do laundry

  • betel shop

  • haircut

  • tea cart

  • Selling samosas, bread dumplings, sweets as well as eggs

  • Roadside Books & Stationery Shop

  • door window work  



Eligibility Criteria in Pradhan Mantri Swanidhi Yojana

Being a part of Pradhan Mantri Swanidhi Yojana, you will need to meet the following eligibility criteria to get a loan –

  • Resident of India :- To be a part of this scheme, it is necessary that the beneficiary should get the citizenship of India. People having citizenship of other country will not be able to get loan.

  • Street vendors: - Such persons who work by running small carts or by opening shops, or by hawking, and run their home and family with the money received from it, they will be beneficiaries in this.

  • Those who lost their jobs due to the lockdown :- Such people can also take loan in this scheme. Those who have lost their jobs due to lack of work during the lockdown and have become unemployed.



Total Beneficiaries of Pradhan Mantri Swanidhi Yojana

According to the preliminary data collected from the state governments, about 50 lakh street vendors will be benefited from PM Street Vendor Atmanirbhar i.e. PM Swanidhi Yojana. The central government is going to increase the credit flow of Rs 5000 crore in this sector. Apart from this, street vendors who use digital payments and timely repayment will be encouraged through monetary rewards.  



How to apply for loan under Pradhan Mantri Swanidhi Yojana (How to Apply)

To provide an initial working capital loan of up to Rs 10,000, the government has launched the PM Street Vendor Atmanirbhar Yojana 2020. Online applications for this scheme are now starting from July 1, 2020. The procedure to apply for availing the loan is given below –


  • First of all, the beneficiaries have to visit the official website of PM Swanidhi Yojana .

  • When they come to its home page, they will have to come to the 'Planning to apply for loan' section, where they will be asked to follow 3 steps to apply. Understand the requirements for applying for these 3 step loans, ensure that your mobile number is linked with your Aadhaar, and check your eligibility status as per the scheme rules. etc.

  • When they see the first step, a link will appear in it which will be the registration form of Pradhan Mantri Swanidhi Yojana, clicking on it will open a PDF copy of that form in front of them, which can be easily printed.  

  • After taking a print out of it, fill it correctly and send it along with necessary documents to the concerned authorities. After following these 3 steps, click on the 'View More' button. In which you will get other information related to this scheme.



Note – The beta version of PM Swanidhi Yojana has been launched by the Secretary and Ministry of Urban and Housing yesterday. The process of applying for this is starting from 1st July and the process of approval of online loan application will start from 2nd July.




People also ask

Q: How much loan will be provided to street vendors under Pradhan Mantri Swanidhi Yojana?

Ans: Under Pradhan Mantri Swanidhi Yojana, street vendors will be provided a loan amount of Rs 10,000 to start their business.



Q: Who are considered eligible in Pradhan Mantri Swanidhi Yojana?

Ans: Under the Pradhan Mantri Swanidhi Yojana, the beneficiaries who set up roadside stalls or small shops and hawkers have been considered eligible.



Q: What to do to get loan under Pradhan Mantri Swanidhi Yojana?

Ans: To get a loan under Pradhan Mantri Swanidhi Yojana, you have to apply by visiting the official website of the concerned department. After this you will be given loan approval.


Q: Why is the name of Pradhan Mantri Swanidhi Yojana Swanidhi?

Ans: The full name of Pradhan Mantri Swanidhi Yojana is Pradhan Mantri Street Vendors Self-Reliant Fund Scheme. That's why it is called Swanidhi Yojana in short form.


Q: What is the rate and amount of interest subsidy in Pradhan Mantri Swanidhi Yojana?

Ans: The rate of interest in this scheme is 7%. The interest subsidy amount will be credited directly to your account on a quarterly basis. After taking a loan of Rs 10,000, if you can pay 12 EMIs on time, you will get an additional Rs 400 as interest subsidy.


Q: How to apply in PM Swanidhi Yojana?

Ans :

  1. To take advantage of the Swanidhi scheme, you must first go to its official website.

  2. After coming to the home page of the official website, you will see some options. ,

  3. On the home page, you will see the Planning to Apply for Loan option at the bottom, here you can complete the application form in three steps.


Q: How to get loan of 10000?

Ans: The central government has started this scheme under the Atmanirbhar Bharat Abhiyan. Under this scheme, street vendors can get a collateral free loan of up to Rs 10,000 for one year. That is, in this scheme, you will not have to give any kind of guarantee to take a loan. New Delhi: Daily wage laborers were hit the most by Corona.


Q: When was the Pradhan Mantri Self Fund Scheme started?

Ans: The Prime Minister Street Vendors Self-Reliant Fund Scheme was started on 2 July 2020 by the Prime Minister of our country, Narendra Modi. This scheme was started to help the street vendors who are facing crisis in their business during the Karona Pandemic.


Q: Who is eligible for PM Swanidhi

Ans : Any urban vendor as well as people working in nearby rural and semi-urban areas on or before 24 March 2020 will be eligible to apply for the loan. Initially a working capital of Rs. 10,000 will be awarded.


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