Over 25 lakh applications received under PM-Svanidhi scheme, 12 lakh sanctioned

Over 25 lakh applications have been received under the PM SVANidhi programme — a special micro-credit facility scheme — out of which more than 12 lakh have been sanctioned and about 5.35 lakh loans disbursed.

In Uttar Pradesh, more than 6.5 lakh applications have been received, out of which about 3.27 lakh have been sanctioned and 1.87 lakh loans have been disbursed.

Vendors who had left for their native places due to COVID-19 lockdown are eligible for the loan on their return.

The provision of loans has become hassle-free as one can upload the application online on their own at any common service centre or Municipal office or by going to a bank.
Appreciating the hard-work done by the bank staff, Prime Minister Narendra Modi said, “There was a time when street vendors did not go inside the bank but today the bank is going to their home.”