About PM Street Vendor’s AtmaNirbhar Nidhi
Pm Street Vendor’s Atmanirbhar Nidhi is a plan to provide working capital loans for street vendors, encourage regular repayments and reward digital transactions. The scheme aims to formalise street vendors and provide new opportunities to climb the economic ladder.
The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.
To View/Download the state notifications – https://pmsvanidhi.mohua.gov.in/Home/States
Objective Of This Scheme
Helping Vendors by providing loans at low interest
The Scheme is available to all street vendors engaged in vending in urban areas as on or before March 24, 2020. The eligible vendors will be identified as per following criteria:
- Street vendors 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. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month.
- Street Vendors, left out of the ULBled 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.
Vendors who have gone back to their native places due to COVID-19
Some of the identified / surveyed or other vendors who have been vending / hawking in urban areas, have left for their native places prior to or during the lockdown period because of COVID-19 pandemic. Such vendors are likely to come back after the situation normalizes and resume their business. These vendors, whether from rural / peri-urban areas or city dwellers will be eligible for the loan on their return as per eligibility criteria.
- Vendors can avail a collateral free working capital loan of up to Rs10,000, which is repayable in monthly instalments in the tenure of one year.
- There will be no penalty on early repayment of loan.
- On timely or early repayment, the vendors will be eligible for the next cycle of working capital loan with an enhanced limit of Rs 20000 and Rs 50000. No prepayment penalty will be charged from the vendors for repayment before the scheduled date.
- The vendors, availing loan under the scheme, are eligible to get an interest subsidy @ 7%. The interest subsidy amount will be credited into the borrower’s account quarterly.
Rewards for Digital Transactions
The onboarded vendors would be incentivized with a monthly cashback in the range of Rs 50 – Rs 100 as per the following criteria:
- On executing 50 eligible transactions in a month: Rs 50;
- On executing the next 50 additional eligible transactions in a month: 25 (i.e on reaching 100 eligible transactions, the vendor to receive Rs 75); and
- On executing the next additional 100 or more eligible transactions: 25 (i.e on reaching 200 eligible transactions, the vendor to receive `Rs 100)
For 1st Loan
For Category A and B vendors
- Certificate of Vending
- Identity Card
For Category C and D vendors
- Letter of Recommendation
KYC documents required in addition to CoV/ ID / LoR
- Aadhaar Card*
- Voter Identity Card*
- Driving License
- MNREGA Card
- PAN Card.
For Letter of Recommendation
- Copy of Account Statement/Passbook
- Copy of Membership Card/any other proof of membership
- Any other document to substantiate claim as a vendor
- Request letter to ULB
For Second Loan
- Loan Closure Document
How To Apply
Street Vendors who have not been identified in the survey and does not have Letter of Recommendation (LoR), can apply through PMSVANidhi Portal.
- Go to the URL https://pmsvanidhi.mohua.gov.in/
- Click on ‘Apply for LoR’ button on the homepage
- Enter Aadhaar registered mobile number. Enter Captcha and click on ‘Request OTP’ button.
- Applicant will receive a six digits OTP on his/her registered mobile number. Enter the OTP and Click on ‘Verify OTP’ button.
- Once the OTP is verified, applicants will be asked to enter their Aadhaar card number.
- Enter Aadhaar card number, enter captcha and click on ‘Verify with
- Upon clicking of ‘Verify OTP’ button, applicant will receive 6 digits OTP on their registered mobile number. Enter the OTP and click on ‘Verify’ button.
- Once the OTP is verified, applicant will be navigated to LoR application form.
- Fill the Loan application form and click on ‘Submit’ button to proceed further. Applicant can also partially save the details by clicking on ‘Save’ button.
- Upload the required document by clicking on ‘Upload’ icon.
- Once all the documents are uploaded, click on ‘Submit’ button.
- Click on the check box to agree the declaration policy and click on ‘Submit’ button to submit the LoR application form.
- LoR application number will be generated once the form is submitted and request will be sent to respective ULB. Keep the application number for your reference and click on ‘Done’
- Applicant will be able to view the details and track application status. Click on ‘download’ button to download the LoR application form.
Check Your Application Status
To check your application status at first you need to go to the official website of the scheme which we already provided above
where you will found a option to check your application status as shown in the image below
now you need to provide your application number and registered mobile number
after entering your mobile number then tap on request OTP a OTP will be Sent to your phone after that you need to enter that otp
now finally you need to tap search button, by following these process you can check your application status for this scheme