Micro Credit Scheme for Street Vendors?
Micro Credit Scheme for Street Vendors?
For the last two years, covid has become a hardship for everyone. Most of the trouble is being data-faced by those people who earn their livelihood by doing daily wages. In such a situation, to ease this problem of street vendors, the Modi government has started the PM Svanidhi scheme. Under this, the Modi government is transferring an amount of up to 10 thousand rupees directly to the bank accounts of the needy.
The Modi government at the Center has started the PM Svanidhi Yojana. Under this, an amount of 10 thousand rupees is being given to needy people. In such a situation, you can take advantage of this scheme according to your need. You can start a business by taking a loan of Rs 10,000 under this scheme by visiting your nearest bank. The special thing is that no guarantee has been made mandatory for this amount.Money can be paid in installments: Under the PM Svanidhi Scheme, street vendors can get collateral-free loans up to Rs 10,000 for a year. In such a situation, you will not have to give any kind of guarantee to take a loan under this scheme. Not only this, you can pay the loan in monthly installments, which makes the loan repayment process much easier. At the same time, there is also a special thing that if the vendor makes regular repayment of the loan received under the PM Svanidhi scheme, then a provision of interest subsidy of 7 percent per annum has also been made. In such a situation, the amount of interest subsidy will be sent directly to the beneficiary's bank account quarterly. The duration of the scheme of this loan is till march 2022 only.