US$ 1.58 billion (Rs. 13,422 crore) disbursed to street vendors under PM SVANidhi scheme, Rajya Sabha told

The Union Ministry of Housing and Urban Affairs has disbursed 94.31 lakh loans, amounting to a total of US$ 1.58 billion (Rs. 13,422 crore), to street vendors under the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme as of December 8, 2024. The scheme, launched in 2020 to support urban street vendors during the COVID-19 pandemic, offers collateral-free loans up to US$ 589.21 (Rs. 50,000). Minister of State for Housing and Urban Affairs Tokhan Sahu informed the Rajya Sabha that beneficiaries have repaid 40.36 lakh loans. The scheme has not received any fraud-related complaints regarding the loan disbursement process. 

The loans are distributed across states and categorised based on size: large states, hilly and northeastern states, small states, and Union territories. Each state is assigned a disbursement target, with performance evaluated and ranked accordingly. Madhya Pradesh ranked first in July 2024 under the 'Best Performing State' category, while Assam was second in the 'Best Performing State - Innovation and Best Practices Award' category. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.