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GOVERNMENT OF INDIA
MINISTRY OF HOUSING AND URBAN AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO: 4612
ANSWERED ON:  31.03.2022
Implementation of PM SVANidhi Scheme
DNV Senthilkumar. S.
Amol Ramsing Kolhe
Sunil Dattatray Tatkare
Subhash Ramrao Bhamre
Supriya Sadanand Sule
Kaushalendra Kumar
Will the Minister of



HOUSING AND URBAN AFFAIRS be pleased to state:-


(a) the salient features of Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme;

(b) the number of beneficiaries who have been provided assistance by the Government so far under PM-SVANidhi scheme, State-wise including Maharashtra and Bihar and the total amount released thereunder;

(c) whether PM SVANidhi scheme has been able to achieve the objectives for which the scheme was launched and if so, the details thereof and if not, the corrective steps taken in this regard;

(d) whether the share of private sector banks in the scheme remains very low and if so, the details thereof and the reasons therefor;

(e) whether the Government has taken steps to encourage participation of private banks and enhance their share in thetotal sanctions and disbursements under the scheme and if so, the details thereof;

(f) whether the Government has signed any Memorandum of Understanding with financial institutions to implement the scheme and if so, the detailsthereof;

(g) the number of beneficiaries registered/benefitted under the said scheme during the last three years and the current year, State-wise including Maharashtra and Bihar; and

(h) the rate of interest on which these beneficiaries are getting loan and share of percentage of the subsidy to be borne by the Union Government and the beneficiaries?



ANSWER

ANSWER
THE MINISTER OF STATE IN THE
MINISTRY OF HOUSING AND URBAN AFFAIRS
(SHRI KAUSHAL KISHORE)

(a): Ministry of Housing and Urban Affairs (MoHUA) is implementing Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme since June 01, 2020 to facilitate provision of collateral free working capital loan to street vendors to restart their businesses, which were adversely impacted during the Covid-19 pandemic. The salient features of the Scheme are:

i. Facilitate provision of collateral free working capital loan up to ?10,000 of 1-year tenor; enhanced loan of ?20,000 and ?50,000 in the second and third tranches respectively, on repayment of earlier loans.

ii. Incentivize regular repayment, through interest subsidy @ 7% per annum; and

iii. Reward digital transactions, by way of cash back up to ?1,200 per year.

(b)& (g) As on March 24, 2022, the number of beneficiaries under the PM SVANidhi Scheme are 29.1 lakh and a credit of ?3,170 crore has been disbursed. The State/UT-wise, Year-wise details including for Maharashtra and Bihar are at Annexure-I.

(c) Yes, Sir. PM SVANidhi Scheme has achieved its objective of facilitating loans to the Street Vendors to restart their business. As on March 24, 2022, 30.5 lakh loans which include 1st as well as 2nd tranche loans, have been disbursed.

(d) & (e) As on March 24, 2022, Private Sector Banks have disbursed 61,358loans, which account for just 2%out of total of 30.5 lakh loans disbursed. The private bank-wise performance is at Annexure-II.


Ministry of Housing and Urban Affairs (MoHUA) & Department of Financial Services (DFS) regularly conduct review meetings with the Lending Institutions (LIs) including private sector banks, to improve their performance. From FY 2020-21 to FY 2021-22, the percentage share in loans sanctioned by Private Sector Banks has increased from 1.9% to 11.6% while percentage of share in disbursements has increased from 1.7% to 2.5%.

(f) Yes, Sir. Ministry has signed an MoU with Small Industries Development Bank of India (SIDBI) for implementation of PM SVANidhi Scheme. SIDBI has leveraged the Udyami Mitra Portal and the network of lending Institutions, which include Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Small Finance Banks(SFBs), Cooperative Banks, Non-Banking Financial Companies (NBFCs) & Micro-Finance Institutions (MFIs) for scheme implementation.

(h)The Lending Institutions charge rates of interest as per the extant Reserve Bank of India guidelines.
An interest subsidy of 7% is paid on quarterly basis on timely repayment of the loans.

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