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PM Svanidhi Yojana: Government will give loans up to 10 thousand to start small businesses, know how to apply


new Delhi. Many small businessmen, including hawkers, street vendors, have suffered significant losses due to the lockdown. Many have lost their livelihood, while some people are surviving. To overcome the problem of such people, the PM Swanidhi Yojana (PM Svanidhi Yojana) is being run by the Central Government. Under this, loans of up to 10 thousand are provided to the needy people to start small businesses. So that their livelihood can go on. So what is the plan and how to take advantage of it, let us know.

What is plan
Under the PM Swanidhi Yojana, loans are provided for financial assistance to the roadside vendors (Street Vendors). The scheme was approved in the cabinet on 1 June. In this, loans up to a maximum of 10 thousand rupees are given with easy terms. This is a kind of unsecured loan. The benefit of this scheme can be taken on the roadside, cart or hawker-shop, fruit-vegetable, laundry, saloon and paan shop etc.

Application process
Applications under the scheme can be made both online and offline. To apply digital, you have to visit the official website of the scheme http://pmsvanidhi.mohua.gov.in/. Whereas to fill the offline form, you will have to contact any commercial bank, rural bank, small finance bank, cooperative bank, non banking finance company, SHG bank. If you want, you can also take help of any banking correspondent or agent of micro finance institution. Apart from this, the government has also launched Khaya App for this. Which has all the same features as the web portal of PM Swanidhi. These include vendor search in survey data, e-KYC to apply for loans, application processing and real time monitoring. In this, loans can be given easily through micro-credit facilities.

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