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Uttar Pradesh secures First Rank in Disbursing Loans under PM SVANidhi Scheme;PM Modi distributes Loans

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UP-govt-secures-first-rank-in-disbursing-loans-under-PM-Swanidhi-SchemeUttar Pradesh  has secured First Rank in Disbursing Loans under PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme by approving the highest number of loans under the scheme in the country. On 27th October, 2020, Prime Minister Narendra Modi  distributed Loans to around 3 Lakh beneficiaries.

Madhya Pradesh secures second in the list with over 1.25 Lakh Beneficiaries, followed by Telangana (53, 777) in Loan Disbursement Category. Meanwhile, Uttar Pradesh ranked first in all categories viz Applications of Loan, Sanction of Loan and Disbursements of loans under the scheme.

Key Points:

i.Uttar Pradesh received around  6.2 lakh applications, out of which approximately 3.4  applicants were sanctioned, and loans disbursed to about 2.2 beneficiaries.

ii.Seven cities from the state of Uttar Pradesh featured in the list of top 10 cities. They are Varanasi, Lucknow, Aligarh, Allahabad, Gorakhpur, Ghaziabad and Kanpur.

iii.The cities Varanasi, Lucknow & Aligarh topped the list.

Top 3 States in Loan Disbursement Category:

Rank State Loan Disbursements (approximately)
1 Uttar Pradesh 2.2 Lakh Loans
2 Madhya Pradesh 1.25 Lakh Loans
3 Telangana 53, 777 Lakh Loans


PM Modi interacts with beneficiaries of PM SVANidhi Yojana:

Prime Minister Narendra Modi virtually interacted with beneficiaries of PM SVANidhi Yojana in Uttar Pradesh. Uttar Pradesh Chief Minister, Yogi Adityanath was present during the virtual event.

i.The virtual interaction with the Prime Minister was organized in 651 local bodies of state.

ii.On occasion of the interaction, loans under the scheme were transferred to 3 Lakh beneficiaries of Uttar Pradesh.

PM Atmanirbhar Nidhi Scheme (SVANidhi Scheme):

i.The scheme was launched on June 1, 2020 to help street vendors, hawkers in urban, pre-urban and rural areas.

ii.It aims to facilitate collateral-free  working capital loans of up to INR 10, 000 of one-year tenure at a subsidized rate of interest to approximately 50 Lakh Street Vendors.

iii.The scheme will play a big role in decreasing the rate of migration due to unemployment.

iv.The scheme has received more than 24 Lakh Applications, out of which 12 Lakh loans have been sanctioned and about 5.35 loans have been disbursed.

v.The scheme is available for belonging to states and Union Territories who have notified rules and schemes under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.

Recent Related News:

i.On September 24, 2020 Yogi Adityanath, Chief Minister(CM) of Uttar Pradesh(UP) launched Unified Re-imagined Innovation for Student Empowerment (U-Rise) portal in Lucknow, UP. The portal guides the students in learning, career counselling, and getting employment in the state.

About Uttar Pradesh:
Governor – Anandiben Patel
Dams – Rihand Dam or GovindBallabh Pant Sagar(Rihand River ),Matatila Dam(River Betwa),The Rajghat Dam (Betwa River)