Prime Minister Narendra Modi would distribute loans to almost 300,000 road merchants on Tuesday (October 27) under the PM SVANidhi Scheme (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Yojana) using video conferencing.

During the event, PM will likewise associate with the recipients, extra chief secretary, data, Navneet Sehgal said here on Saturday.

Under the PM SVANidhi scheme, road sellers can get working capital of up to Rs 10,000 at subsidized rates.

PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on June 1 this year to help poor road sellers, affected by the Covid pandemic, continue livelihood activities.

The scheme is pointed toward enabling people from minimized sections and promoting the government agenda of building a confident India.

More than 24 lakh applications have been gotten under the scheme, out of which more than 12 lakh have been sanctioned, and about 5.35 lakh loans disbursed till now.

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