BHUBANESWAR: Odisha joined the historic national programme for the disbursement of one lakh Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) loans and the launch of credit cards for PM-SVANidhi beneficiaries by Prime Minister Narendra Modi from Thiruvananthapuram on Friday.
Housing and Urban Development minister Krushna Chandra Mahapatra distributed PM-SVANidhi loans and credit cards here at a parallel event. He also felicitated three successful PM-SVANidhi beneficiaries, including two women, who have become self-reliant through the scheme.
Speaking on the occasion, Mahapatra emphasised that street vendors form the backbone of the urban informal economy by ensuring affordable access to goods and services and generating large-scale self-employment. He highlighted the transformative impact of PM-SVANidhi on the lives of street vendors. “PM-SVANidhi is a landmark initiative that restores not only livelihoods but also dignity, confidence and financial inclusion among street vendors,” he said.
The PM-SVANidhi scheme provides collateral-free working capital loans starting from Rs 15,000 up to Rs 25,000 and Rs 50,000 based on timely repayment and good credit behaviour. The newly-launched PM-SVANidhi credit cards will enable beneficiaries to access flexible and revolving credit, strengthening business continuity and financial resilience.
As many as 1,10,128 PM-SVANidhi loans have already been disbursed through various banking institutions, directly benefiting more than 1.1 lakh street vendor families across Odisha. The initiative is being implemented in the state through convergence with eight key social welfare and social security schemes across five ministries/departments.
Under Pradhan Mantri Suraksha Bima Yojana (PMSBY), 12,391 beneficiaries have been enrolled with accidental insurance coverage of Rs 2 lakh, while 6,421 beneficiaries have been covered under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) with life insurance of Rs 2 lakh.
Besides, 1,387 zero-balance accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY). Beneficiaries have also been linked with One Nation One Ration Card (ONORC), Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYMY), Building and Other Construction Workers Welfare Board (BoCWWB) and maternal benefit schemes JSY and PMMVY. A special drive is underway to ensure 100 per cent saturation of PMAY benefits among PM-SVANidhi beneficiaries, the minister said.