New Delhi, Oct. 9 -- The central government's PM Street Vendor's AtmaNirbhar Nidhi, also known as the PM SVANidhi scheme, is a Ministry of Housing and Urban Affairs (MoHUA)- backed micro-credit scheme that aims to provide loan facilities to street vendors.

The PM SVANidhi scheme enables street vendors to take a collateral-free loan of up to Rs.10,000, as well as loans of Rs.20,000 and Rs.50,000, with an interest rate of 7%.

Through these loan initiatives, the central government aims to promote the use of digital transactions among the street vendors. They aim to incentivise the adoption of digital transactions and provide a cashback of up to Rs.100 per month to the street vendors.

In order to apply 'Online' to the PM SVANidhi scheme, t...