Lucknow: Chief Minister Yogi Adityanath hailed the transformative impact of the PM SVANidhi Scheme saying that the the scheme for liberating street vendors from the clutches of extortion and moneylenders.
He said this during a function where loans were distributed to 11,000 beneficiaries under the PM SVANidhi (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi).
Under the PM SVANidhi Scheme, spearheaded by Prime Minister Narendra Modi, street vendors have been connected with formal banking channels, granting them access to interest-free loans.
Currently, over 15 lakh street vendors in Uttar Pradesh alone are benefiting from this initiative.
Chief Minister Yogi Adityanath emphasised the scheme’s role in making street vendors self-reliant, providing loans in three installments: Rs 10,000, Rs 20,000, and Rs 50,000, respectively. Importantly, the second and third installments are granted upon the repayment of the first installment.
During the event, Chief Minister Adityanath handed over loan cheques to a group of enthusiastic street vendors and women from self-help groups.
He underscored the scheme’s significance in promoting women’s empowerment and self-reliance, acknowledging that many women juggle household responsibilities and street vending.
“To further safeguard the well-being of street vendors, the Uttar Pradesh government has provided a security insurance cover of five lakhs to beneficiaries associated with the SVANidhi Yojana,” the CM said.
Addressing the audience, Yogi Adityanath highlighted the unprecedented efforts undertaken in the state over the past six years to improve cleanliness and eliminate corrupt practices.