The mobile application of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) has been launched. It aims to offer user friendly digital interface to the Lending Institutions (LIs) as well as to their field functionaries in order to source and process loan applications to the street vendors under the scheme. The launch of the mobile app is a step towards boosting the use of digital technology and will ensure maximum coverage of the scheme.
The mobile app will promote paper-less digital accessing of micro-credit facilities by the Street Vendors and will give impetus to the implementation strategy of the PM SVANidhi scheme. The application have various features such as vendor search in the survey data, e-KYC of applicants, processing of applications, as well as real time monitoring.
About PM SVANidhi scheme:
Ministry of Housing and Urban Affairs launched the PM SVANidhi scheme to provide affordable Working Capital loan to street vendors in order to enable them resume their livelihoods that have been adversely affected due to COVID-19 lockdown.
Important takeaways for all competitive exams:
- Minister of State (I/C) for Housing and Urban Affairs: Hardeep Singh Puri.