New Delhi, Feb. 14 -- PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, has been launched to benefit street vendors. The aim is to mainstream them and improve their lives.

It's a micro-credit scheme, launched by the Ministry of Housing and Urban Affairs, in June 2020. Collateral-free loans are given under the scheme, with no hassles regarding strict repayment terms. They plan to cover around 50 lakh vendors. Also, interest subsidy claims under the scheme are paid till March 2028.

Loans are provided under this scheme in cycles. Three cycles are there under which loans can be given through this system. In the first cycle the loan that can be given is maximum Rs.10,000 then Rs.20,000 and Rs.50,000 in the third cycle. The time for ...