Main Bhi Digital (Me Too Digital) Drive for the Street Vendors: All you need to know
In order to mitigate the impact of the COVID-19 lockdown on the street vendors, the Ministry of Housing & Urban Affairs (MoHUA), Government of India launched PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) on 1 June 2020. The special micro-credit facility scheme provided working capital to the street vendors so that they can resume their businesses.
In a bid to make the scheme more accessible, the Central Government launched the scheme's mobile application on 17 July 2020. Now, the Central Government will be launching 'Mai Bhi Digital (me too digital)' drive for the street vendors, enabling them to accept and make payments digitally.
Main Bhi Digital Drive: Key Highlights
1- From 2-22 January 2021, over 10 lakh street vendors pan India (who have availed of the Rs 10,000 loan) will be trained in using digital payments.
2- With the launch of this new drive, street vendors would be able to receive payments and pay for material they procure from sellers using unique QR codes.
3- The cell phones of the street vendors will be equipped with the software to make transactions.
4- The training on digital payments to the street vendors will be provided on a safe and secure platform.
About PMSVANidhi Scheme:
1- It was launched on 1 June 2020.
2- The scheme entitles the street vendors to INR 10,000 interest-free loan to resume their businesses after easing of lockdown. It is to be noted that the street vendors were severely affected due to the nationwide lockdown to contain COVID-19 pandemic.
a. Initial working capital of up to Rs. 10,000.
b. Interest subsidy on timely or early repayment of loans at the rate of 7%.
c. Monthly cash-back incentive on digital transactions
d. Higher loan eligibility on timely repayment of the first loan.
4- Credit to the street vendors will be provided by-- Scheduled Commercial Banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks, Non-Banking Financial Companies, Micro-Finance Institutions and SHG Banks.
5- The scheme is available to vendors of surrounding development/ peri-urban or rural areas vending in the geographical limits of the cities or towns and those left out of the survey.
6- Any of the following documents can be used for KYC purpose-- Aadhar Card, Voter ID Card, Driving License, MNREGA Card or PAN Card.
How to apply for the loan under PMSVANidhi scheme?
1- Visit the official website-- pmsvanidhi.mohua.gov.in/
2- Click on apply for loan tab.
3- Enter credentials such as the mobile number and OTP.
4- Choose the category and fill in the required details.
5- Click on submit.
Who is a 'Street Vendor'?
As per the Ministry of Housing & Urban Affairs, Government of India, any person who is engaged in vending of articles, goods, wares, food items or merchandise of daily use or offering services to the public in a street, footpath, pavement and so forth from a temporary built structure or by moving from one place to another is known as a 'Street Vendor'.
As per the government estimates, there are around 50-60 lakh street vendors in India accounting to 14% of the total (non-agricultural) urban informal employment in the country.