IND PMSVANidhi
IND PMSVANidhi
| Particulars | Guidelines |
| Objective | The loan component of the PM SVANidhi scheme is designed to:
· Extend working capital term loan to SVs, helping them restart, sustain, and grow their business · Offer interest subsidies as an incentive for prompt repayment. · Promote financial self-resilience among SVs by strengthening their long-term livelihood security and facilitating their transition to formal credit systems through structured loan access and credit discipline. |
| Margin | NIL |
| Credit Score | No minimum CIC score shall be required for sanctioning loans under the Scheme. However, applications may be rejected if the borrower has any existing loan classified as NPA or if any account has been written off by any Lending Institution. |
| Loan Amount | 1st Tranche loan: Up to ₹15,000/- (Minimum loan amount ₹5,000/-)
2nd Tranche loan: Up to ₹25,000/- (Minimum loan amount ₹15,000/) 3rd Tranche loan: Up to ₹50,000/- (Minimum loan amount ₹30,000/-)
· Credit support to Street Vendors will be extended in the form of Working Capital Term Loans in three tranches, with disbursement of the 2nd and 3rd tranches contingent upon successful repayment of the loan availed under the preceding tranche. · Street Vendors who have successfully repaid the loan availed under Tranche2 are eligible to avail the Credit Card facility on standalone basis. |
| Rate of
Interest |
Repo (5.50%)+ Prime Spread (2.70%) + Other Spread (2.30%) = 10.50% at present (floating) for all tranches |
| Interest Subsidy | · The vendors availing loan under the scheme are eligible to get an interest subsidy @ 7% p.a. The interest subsidy amount will be credited directly to the borrowers’ account on quarterly basis. Lending Institutions to submit claim on quarterly basis through Paisa portal.
· Interest subsidy will be available only for loan accounts classified as ‘Standard’ on respective claim dates and only for those months within a quarter during which the account remained as ‘Standard’. · All loans disbursed till 31.03.2030 would be eligible for interest subsidy. However, all claims for interest subsidy benefit to be claimed by the LIs before 31.03.2033. |
| Repayment Period & Moratorium | 1st Tranche loan: To be repaid in maximum 12 EMIs without any holiday period
2nd Tranche loan: To be repaid in maximum 18 EMIs without any holiday period 3rd Tranche loan: To be repaid in maximum 36 EMIs without any holiday period
Pre-payment of loans is allowed in all tranches without any penalty or cost. |
| Upfront fee/ processing charges. | NIL |
| Security | Loans sanctioned under the scheme to be considered as unsecured. |
| Guarantors | NIL |
| Digital Transaction incentive | · Street Vendors are eligible for any inward and outward digital transaction @ Rs.1 per transaction up to Rs.100 per months, with maximum cashback of Rs.1200 per year in each tranche.
· Wholesale digital purchases – up to Rs.100 per quarter (@ Rs.20 per transaction for 5 such transactions) for 4 quarters for conducting digital transactions on wholesale purchases of at least Rs.2000, with a maximum cashback of Rs.400 per year. |
| Others | · The loan applications under the scheme are to be routed through ‘Udyami Mitra’ portal. After sanction and disbursement, the details of the loan account number, date of sanction, date of disbursal and rate of interest etc., are to be updated in the ‘Udyami Mitra’ portal by financing Branches.
· No minimum internal scoring is applicable for loans sanctioned under the scheme. · Applicants without any credit history are also permitted under the scheme. · Any modification/ clarification issued by GOI from time to time will form part of the scheme. · All other bank guidelines issued from time to time are to be complied with · Due diligence to be undertaken as per the Banks’ policy, in this regard. · Compliance to KYC/ AML and other guidelines to be ensured. |
( Last modified on Oct 17, 2025 at 12:10:13 PM )
