Extension of PM SVANidhi Scheme
On 27th April, 2022, the Cabinet Committee on Economic Affairs (CCEA) approved extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) beyond March 2022 till December 2024.
- This has been done keeping in mind the impact of the pandemic-related stress on small businesses.
Benefits
- Access to Formal Credit: The extension would assist in institutionalising the access to formal credit channels, providing an assured source of credit, increasing the adoption of digital transactions and reducing the impact of potential Nonperforming Assets (NPAs) on the lending Institutions.
- Holistic Socio-economic Development: It would further help in holistic socio-economic development of the street vendors ....
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