The Municipal Corporation organised a PM SVANidhi Mahotsav at the Manohar Vending Zone in Sector 17, Jagadhri, to mark six years of the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme. Mayor Suman Bahmani, Councillor Priyank Sharma and TFI Gopal Bakshi attended the event as chief guests and felicitated beneficiary street vendors with awards and certificates.
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Children of street vendors who secured good marks in their board examinations were also honoured at the programme. In addition, credit cards were distributed to 12 street vendors, enabling them to make purchases ranging from ₹10,000 to ₹30,000.
Mayor Suman Bahmani said the PM SVANidhi scheme had emerged as an important source of financial support for street vendors and small traders. She said beneficiaries could use the scheme to expand their businesses and increase their income.
Collateral-Free Loans in Three Stages
Explaining the financial assistance available under the scheme, the Mayor said eligible vendors could obtain collateral-free loans of up to ₹15,000 in the first stage, ₹25,000 in the second stage and ₹50,000 in the third stage.
She said that in Yamunanagar district, 13,177 street vendors had received the first loan, 3,746 had received the second loan and 841 had received the third loan so far. Beneficiaries who repay their loans on time are eligible for interest subsidy and may qualify for a higher loan amount in the next cycle.
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Digital Payments and Cashback Incentives
The Mayor added that vendors who repay loans on time receive the benefit of interest subsidy and opportunities to access larger loans. Cashback incentives are also being provided to encourage digital transactions. She said the scheme was helping small traders become self-reliant, strengthening their financial position and supporting the livelihoods of thousands of families.
Vending Zone to Be Made Cleaner and Better Equipped
Councillor Priyank Sharma said the Municipal Corporation was making continuous efforts to ensure that the Manohar Vending Zone remained clean, attractive and equipped with better facilities. He said the Mahotsav was intended not only to strengthen the financial position of street vendors but also to spread awareness about digital payments and government welfare schemes.
Vendors who had repaid their loans on time and those who had used credit cards effectively to grow their businesses were specially recognised. Mukta, Hemlata, Neha, Sudhir, Naveen, Sudesh Kumar, Zahid, Ramkesh and others were present at the event.
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The PM SVANidhi scheme provides collateral-free working-capital loans to eligible street vendors in stages. Loan amounts, interest subsidy and digital-payment incentives are subject to the applicable scheme guidelines and beneficiary eligibility.
