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PM SVANidhi Scheme: ‘Main Bhi Digital 3.0’ Campaign for Digital Onboarding of Street Vendors

PM SVANidhi Scheme- Relevance for UPSC Exam

  • GS Paper 2: Governance, Administration and Challenges- Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes.

 

Indian Polity

 

PM SVANidhi Scheme– ‘Main Bhi Digital 3.0’ Campaign

  • Recently, the Ministry of Housing & Urban Affairs and the Ministry of Electronics & Information Technology (MeitY) jointly launched ‘Main Bhi Digital 3.0’ to complement the efforts of Lending Institutions in the adoption of digital transactions by the PM SVANidhi beneficiaries.

Government Schemes/Programmes for Welfare and Development of Minorities: Explained

 

‘Main Bhi Digital 3.0’ Campaign- key points

  • About: ‘Main Bhi Digital 3.0 campaign is aimed at digital onboarding of Street Vendors (SVs) who have already been provided loans under PM SVANidhi Scheme.
  • PM SVANidhi Scheme and ‘Main Bhi Digital 3.0’: Digital onboarding and training of Street Vendors (SVs) is an integral part of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme.
    • Lending Institutions (LIs) have been instructed to issue a durable QR Code & UPI ID at the time of disbursement and train the beneficiaries in the conduct of digital transactions.

Digitalisation of Agricultural Sector: Steps by Government

 

PM SVANidhi Scheme: Micro Credit Scheme for Street Vendors

  • About: PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is a Special Micro-Credit Facility Scheme for providing affordable loans to street vendors.
  • Parent Ministry: PM SVANidhi scheme is being implemented by the Ministry of Housing and Urban Affairs. Urban Local Bodies will play a pivotal role in the implementation of the scheme.
  • Beneficiaries: over 50 lakh people, including vendors, hawkers, thelewalas, rehriwala, theliphadwala etc. in different areas/ contexts are likely to benefit from PM SVANidhi scheme.
    • The goods supplied by them range from vegetables, fruits, ready-to-eat street foods, tea, pakodas, breads, eggs, textiles, apparel, footwear, artisan products, books/ stationaries etc.
    • The services include barbershops, cobblers, pan shops, laundry services etc.
  • Implementation:
    • An Integrated IT Platform has been developed for the implementation of the PM SVANidhi Scheme. The application process is fully online.
    • Street Vendors can apply for loans directly through PM SVANidhi Portal. The application can also be submitted at Municipal Offices and Common Service Centres (CSCs).
    • In addition, the SVs can approach municipal functionaries or representatives of Lending Institutions to apply through PM SVANidhi mobile App.
  • Providing Capital (Loan facility): The street vendors can avail of a working capital loan of up to Rs. 10,000, which is repayable in monthly installments within a year.
    • This loan would be collateral-free and there will be no penalty on early repayment of the loan.

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