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Collateral free Working Capital Loans upto Rs 10,000 Under By Govt of India

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Collateral free Working Capital Loans upto Rs 10,000 Under By Govt of India

Collateral free Working Capital Loans upto Rs 10,000 Under By Govt of India

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Government Initiative
posted by CA Dhananjay Ojha
September 17, 2020

Ministry of Housing and Urban Affairs has launched ‘Prime Minister Street Vendor’s AmtaNirbharNidhi Scheme (PM SVANidhi).

It aims at facilitating collateral free working capital loans upto Rs 10,000 of 1 year tenure, to street vendors across the country.

It provides for incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan and cash-back upto Rs. 1,200 per annum on undertaking prescribed digital transactions.