The Ministry of Housing and Urban Affairs has launched a micro-credit facility for street vendors under the Swanidhi Scheme.

Try this question from CSP 2016:

Q.Rashtriya Garima Abhiyaan’ is a national campaign to

(a) rehabilitate the homeless and destitute persons and provide then with suitable sources of livelihood

(b) release the sex workers from the practice and provide them with alternative sources of livelihood

(c) eradicate the practice of manual scavenging and rehabilitate the manual scavenger

(d) release the bonded labourers free their bondage and rehabilitate them

PM Swanidhi Scheme

• The Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Scheme is aimed at benefiting over 50 lakh vendors who had their businesses operational on or before March 24.
• The scheme was announced by Finance Minister as a part of the economic package for those affected by the COVID-19 pandemic and lockdown.
• The loans are meant to help kick-start activity for vendors who have been left without any income since the lockdown was implemented on March 25.
• The scheme is valid until March 2022.

Expected beneficiaries

• This loan will be given to those who run shops on the roadside, handcart or streetcar.
• Fruit-vegetable, laundry, saloon and paan shops are also included in this category.

Facilities provided under the scheme

• The vendors will be able to apply for a working capital loan of up to ₹10,000, which is repayable in monthly instalments within a 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 on a six-monthly basis.
• The loans would be without collateral. There will be no penalty on early repayment of the loan.

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