PM Swanidhi Scheme: Due to the Corona epidemic (Covid-19), the poor section of the country has suffered a lot and lakhs of people have lost their jobs. A large part of this belongs to the people of Street Vendors. To prevent the infection of corona, the central and state governments have resorted to lockdown several times. In such a situation, the people who earn and eat daily have suffered huge financial loss.
In such a situation, the central government has started ‘PM Svanidhi Yojana’ to help the street vendors and to make them start their work again. For this scheme, the government provides loan facility ranging from Rs 10,000 to Rs 50,000 to roadside shop owners and small traders.
Loan is available without any guarantee
There is no need of any loan guarantee in the loan received under ‘PM Svanidhi Yojana’. This is a Collateral Free Loan i.e. free business loan without guarantee. In such a situation, it is proving to be a great scheme for street vendors. Street vendors can take this loan again and again to grow their business. You get a loan of Rs 10,000 for the first time. You can pay this loan every month.
How much time is available to repay the loan
Let us tell you that in this special scheme launched by the Modi government, street vendors get enough time to repay the loan. Once you take a loan, you can repay it in 12 months i.e. 1 year. If you want, you can pay this loan in installments every month. For this you must have Aadhar card.
PM Svanidhi Yojana Application Process
- You can apply for this scheme by visiting any government bank.
- You go to the bank and do the PM Svanidhi Yojana form again.
- Give a copy of Aadhaar along with it.
- After this the bank will approve your loan.
- You will get the loan money in installments.
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