PM SVANidhi Mobile App UPSC

PM SVANidhi Mobile App | UPSC


Mobile App of PM SVANidhi launched to bring Microcredit facility for street vendors at their door steps

      WHY IN NEWS:

More than 1,54,000 street vendors applied for working capital loan so far across States/ Uts–over 48,000 already been sanctioned

MINISTRY? :-Ministry of Housing & Urban Affairs


For PRELIMS it is important to understand both the scheme and how the app works for the street vendors .

For MAINS make some extra efforts on collecting points on agony of street vendors.




This App aims to provide user friendly digital interface for Lending Institutions (LIs) .

This enables field functionaries for sourcing and processing loan applications of street vendors under the Scheme.


  • The launch event was organised through a video conference .
  • Ministry has already launched the Web Portal on June 29, 2020.


  • PM SVANidhi Mobile App is a step towards boosting the use of digital technology.
  • This will enable field functionaries of LIs like Banking Correspondents (BCs) and Agents of Non-Banking Financial Companies (NBFCs)/ Micro-Finance Institutions (MFIs)
  • Mobile App will give impetus to the implementation strategy of the Scheme besides promoting paper-less digital accessing of micro-credit facilities by the Street Vendors.


  • This App has all the features similar to the Web Portal of PM SVANidhi added with the feature of easy portability.

The features include vendor search in the survey data, e-KYC of applicants, processing of applications, and real time monitoring.   

  • The App can be downloaded from the Google play store.


PM SVANidhi was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020, for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.


The scheme targets to benefit over 50 lakh Street Vendors who had been vending on or before 24 March, 2020.


The vendors can avail a working capital loan of up to Rs. 10,000.

  • The scheme covers urban areas including those from surrounding peri-urban/ rural areas.
  • The amount is repayable in monthly instalments in the tenure of one year.

On timely/ early repayment of the loan, an interest subsidy @ 7% per annum.

  • Subsidies will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis.
  • There will be no penalty on early repayment of loan.
  • The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month.

      IASbhai WINDUP: 

  • Since the commencement of lending process under PM SVANidhi on July 02, 2020, more than 1,54,000 Street Vendors have applied for working capital loan across States/ UTs.
  •  Already 48,000 loans have been sanctioned. 
  • Moreover, the vendors can achieve their ambition of going up on the economic ladder by availing the facility of enhancement of the credit limit on timely/ early repayment of loan.
     SOURCES:THE HINDU & PIB | PM SVANidhi Mobile App | UPSC

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