PM SVANidhi

• Street Vendors vending in ULBs (Urban Local Bodies), census towns and peri-urban areas etc. across all States and Union Territories. Eligible Street Vendors(SVs) will be identified based on the following criteria:
• Street Vendors(SVs) who possess a valid Letter of Recommendation (LoR) or Certificate of Vending (CoV) or Identity Card (ID Card) issued by the Urban Local Bodies (ULBs)/ Town Vending Committees (TVCs);

                                   OR

• Street Vendors(SVs) operating in census towns, peri-urban areas etc., who have received an LoR approved by their Block Development Officer (BDO).
• The vendor may be engaged in either seasonal or year-round vending activities.
• The vendor may operate as a mobile or stationary vendor.
• The vendor should be vending in the respective census town or peri-urban areas.
• Minimum age of Street Vendor is 18 years and there is no upper age limit.
• Udyam Registration Certificate is not mandatory/not required.
• Project Proposal is not required.
• Credit Score is not applicable for Street Vendors(SVs) under this scheme.

 If an existing loan is NPA/or an account is written off by any Bank, then the account may not be considered under the scheme.

• CoV/ ID Card/ LoR issued by ULBs or TVC, to Street Vendors(SVs) working within ULB’s jurisdiction.

                                   OR

• LoR approved by the BDO to Street Vendors(SVs) operating in census towns, peri-urban areas etc.
• Aadhaar Card.
• Voter Identity Card (for Street Vendors(SVs) from Assam and Meghalaya only) who do not have Aadhaar Card.
• Savings Bank Account Passbook/ Bank Statement with account details of the Street Vendor(SV).
• Valid and Unique UPI ID linked to the Street Vendors(SVs) Bank account

Note: All LoRs must be applied for and issued through the PM SVANidhi Portal (PMS Portal). Manually issued LoRs will not be valid.

PMS Portal URL: https://pmsvanidhi.mohua.gov.in/

Note: Other Documents required:

• Application from the borrower.
• KYC Documents.
• Demand Promissory Note/Document.
• Undertaking letter from the borrower
• For 3rd Tranche only: (optional) - One-time declaration on stock/ use of funds; no insistence on receipts.

The loan facility shall be extended in three tranches as under:

*Including Moratorium period

• 12 months for 1st Tranche.
• 18 months for 2nd Tranche.
• 36 months for 3rd Tranche.
• Pre-payment is allowed without any penalty or cost.

Note: Upon timely or early repayment of a tranche, vendors will be eligible for the next tranche of working capital term loans, with the enhanced limit.

7.00% p.a.

The subsidy will be credited directly to the borrower’s account on a Quarterly basis.

Interest subsidy will be admissible only for loan accounts that are classified as ‘Standard’ (non-NPA) as per prevailing RBI guidelines on the respective claim dates. Furthermore, the subsidy will be applicable only for the months within a Quarter during which the account was classified as Standard.

Loan amount & Maximum eligible Subsidy amount:

Note: Represents the maximum eligible subsidy for the full loan amount, disbursed and repaid on time according to the repayment schedule throughout the entire repayment period. The actual subsidy disbursed may be lower.

• 1st Tranche - Nil
• 2nd Tranche - Nil
• 3rd Tranche – Nil as per extant guidelines of the Bank for Government schemes.

All other applicable guidelines as applicable to nature of advance to be adhered to.