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Preneet Kaur urges people of Patiala to avail benefits of Centre's PM SVANidhi Yojna

PATIALA: Former External Affairs Minister and Member Parliament from Patiala Preneet Kaur today urged the people of Patiala district to avail the benefits of Centre Goverment's PM SVANidhi Yojna for street vendors.

In a statement released here the Patiala MP said, "The PM Narendra Modi led Central government is running a very progressive scheme to uplift and re-establish our street vendors who were badly hit during the COVID period. Under this scheme street vendors are given loans up to Rs 50 Thousand. Street vendors are given Rs 10,000 in the first installment and Rs 20,000 in the second installment, and a loan of Rs 50,000 is given in the third installment."

She further said, "The PM SVANidhi scheme envisages the empowerment of street vendors through hassle-free access to affordable credit. Vendors selling goods such as vegetables, fruits, ready-to-eat street food, tea, pan shops, artisan products, etc., or services including barber shops, cobblers, laundry services etc, can get access to working capital credit from banks, NBFCs, and microfinance lenders under this scheme."

Preneet Kaur further said, "The vendors can apply for the loan through the scheme’s portal or mobile app. Also, vendors can approach a nearby Common Service Centre (CSC) or visit the Municipal Corporation office to apply for the loan. The loan process is automated through a mobile app and web portal and takes less than 30 days for the application to be approved."

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