Svanidhi Yojana: The objective of PM Swanidhi Yojana, started during the Covid period, is to provide loans to small businessmen at nominal interest rates without guarantee. The main objective behind this is to save them from getting trapped in the clutches of moneylenders.
The government had started the Pradhan Mantri Swanidhi Yojana for the businessmen running shops on street vendors and footpaths. Govt claims that with the help of this scheme started during the Covid period, lakhs of businessmen got loans from banks without guarantee or conditions. In this scheme, the government gives loan up to Rs 50,000 without any guarantee. With the help of this loan you can easily start your business.
In this scheme you can easily take loan without any guarantee. With the help of the loan amount you can start a new business. In this, the government gives loans ranging from Rs 10,000 to Rs 50,000. In this scheme, a loan of Rs 10,000 is available for the first time, Rs 20,000 for the second time and Rs 50,000 for the third time. The loan amount received under the scheme has to be returned within 12 months i.e. 1 year.
According to the government, so far loans worth more than Rs 11 thousand crore have been given to about 62 lakh people under the Swanidhi scheme. Last month, on March 14, while addressing the beneficiaries of Swanidhi Scheme, Prime Minister Modi had said that street vendors may have small shops but their dreams are big.
In a survey report of the Union Urban Affairs Ministry regarding the PM Swanidhi Scheme, it was revealed that 95 percent of the street vendors have got a loan from a bank for the first time. Also, from the first installment of Rs 10 thousand, each beneficiary earned an additional annual average of Rs 23 thousand 460.
Small loans available under PM Swanidhi Scheme are definitely strengthening the hardworking hands financially. Those beneficiaries who got the loan looked very happy but those who could not get the loan said that it is very difficult for them to leave their work and go to the banks.
Loan can be taken to start a new business.
You get the benefit of 7 percent subsidy on premature loan repayment.
The government also gives cashback on making digital payments.
The beneficiary gets the benefit of cashback ranging from Rs 25 to Rs 100.
How to apply?
You can apply by going to any government bank
To apply, fill the required information in the application form and attach the documents.
After this you will have to tell for which business you are taking the loan.
Now the document will be verified by the bank.
After verifying the documents the beneficiary will get the loan.
Aadhaar Card
Bank Account Number (Bank Account Details)
Address Proof
Mobile number
PAN Card