Guarantee Free Loan Under PMSVA Nidhi Yojana
Guarantee free loan under PMSVA Nidhi Scheme can be applied through CSC. The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs with the objectives: (i) To facilitate working capital loan up to Rs. 10,000; (ii) To incentivize regular repayment; and (iii) To reward digital transactions. The scheme helps formalize the street vendors with above objectives and will open up new opportunities to this sector to move up the economic ladder. CSCs will help vendors’ enrollment in the scheme.
The eligible vendors will be identified as per following criteria: (i) Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs); (ii) The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month. (iii) Street Vendors, left out of the ULB led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and (iv) The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.