Uttar Pradesh government comes first in disbursing loans under PM Svanidhi Scheme

The Uttar Pradesh Government has secured the first place by approving the highest number of loans under PM-SVANidhi Scheme in the country. It is one of the most ambitious schemes of Central Government which aims at benefitting street vendors in rural, urban, and pre-urban areas.

Prime Minister Modi will be distributing loans to around 3 lakh beneficiaries of the scheme and will also interact with a few of them on October 27, 2020. The Chief Minister of Uttar Pradesh, Yogi Adityanath will also mark his presence on the occasion.

मुख्यमंत्री श्री @myogiadityanath जी ने कहा है कि 27 अक्टूबर, 2020 को आदरणीय प्रधानमंत्री @narendramodi जी के कर-कमलों से 03 लाख से अधिक रेहड़ी/पटरी दुकानदारों को योजना के माध्यम से ऋण वितरण कराया जाएगा।

— CM Office, GoUP (@CMOfficeUP) October 24, 2020

The second place has been acquired by Madhya Pradesh by disbursing the loan among over 1.25 lakh beneficiaries. It is then followed by Telangana with 53,777 disbursements and 18,747 disbursements in Gujarat.

'प्रधानमंत्री स्वनिधि' योजना के अन्तर्गत उत्तर प्रदेश में अब तक 6,22,167 ऑनलाइन आवेदन प्राप्त हुए। इसमें से 3,46,150 आवेदन पत्र स्वीकृत किए गए हैं। यह संख्या देश में सर्वाधिक है।

— CM Office, GoUP (@CMOfficeUP) October 24, 2020

Key Highlights:

•  UP has been ranked first in all the categories which include Applications, Sanctions, and disbursement of the loans under the PM-SVANidhi Scheme.

•  The authorities in UP had received around 6,22,167 applications to apply under the scheme. It is also the highest number of applications received in the country.

•  Out of the received applications, sanctions for the loan were given to 3,46,150 applicants while the loans were disbursed to 2,26,728 beneficiaries.

•  7 cities of the UP state has also found a place in the list of top 10 cities applying for the loan all over the country.

•  The top three cities on the list are Lucknow, Varanasi, and Aligarh. Other cities of the state include Gorakhpur, Allahabad, Kanpur, and Ghaziabad.

Disbursement of Loan under PM-SVANidhi in other states:

About PM-SVANidhi Scheme:

The Central Government had launched PM-SVANidhi Scheme on June 1, 2020, in order to help the street vendors to resume their livelihood activities that were majorly impacted by the ongoing COVID-19 pandemic and the government imposed country-wide lockdown.

The scheme aims at facilitating a working capital loan of up to Rs. 10,000 at a subsidized rate of interest to the beneficiaries. The financial aid is to help the street vendors in resuming their work once the normal services are restored.