पीएम स्वनिधि योजना (सड़क पर बिक्री करने वालों के लिए एक विशेष माइक्रो क्रेडिट सुविधा)

Facility Type

Fund Based- Working Capital Demand Loan (WCDL) / Overdraft

Purpose

The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs (MoHUA) with the following objectives:

• To incentivize regular repayment; and
• To reward digital transactions (cash back upto maximum of Rs.1200.00)

Eligibility

The Scheme is available to all street vendors (SV) engaged in vending in urban areas on or before March 24, 2020. The eligible vendors will be identified as per following criteria

• Street vendors identified in survey and in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
• 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 by ULBs.
• 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
• 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.

Loan Amount

Upto Rs. 10,000/- in 1st tranche, upto Rs. 20,000/- in 2nd tranche, Upto Rs. 50,000/- in 3rd tranche

Margin

NIL

Rate of Interest

BRLLR + SP + 5.65% p.a. i.e. with monthly rests.

Tenor and Repayment

For 1st tranche: Maximum up to 12 months, Repayable in 12 EMI starting from one month after disbursement and for 2nd tranche: Upto 18 months

Security

Hypothecation of stocks/Goods, No collateral to be obtained.

CGTMSE graded Guarantee Cover available on portfolio basis.

Processing Fees / Guarantee Fee Payable:

NIL