Govt launched the Beta version of PM Street Vendor’s AtmaNirbhar Nidhi

Government has launched the Beta version of PM Street Vendor’s AtmaNirbhar Nidhi “PM SVANidhi” Portal in presence of officials from States/UTs, Banks, Payment aggregators and other stakeholders.

Daily Current Affairs Quiz 2020

Key-Points

Leveraging on the digital technology solutions, the portal provides for an integrated end to end IT interface to users for availing benefits under the scheme.

Since the launch of PM SVANidhi, on June 1, 2020, Ministry has held detailed interactions with various type of lenders e.g. Banks, MFIs and NBFCs.

An integrated IT platform (pmsvanidhi.mohua.gov.in) to provide an end-to-end solution for scheme administration is being developed by SIDBI, which is the scheme implementation partner for PM SVANidhi.

The portal will facilitate multiple scheme functions viz. loan application flow, Mobile App, e-KYC of applicants, integration with UIDAI, Udyamimitra, NPCI, PAiSA, lenders, States, ULBs and other stakeholders, calculation of digital incentives and payment of interest subsidy etc.

One of the important features of the scheme is to nudge the beneficiaries towards digital transactions by engaging with the Digital Payment Aggregators.

The PM SVANidhi Portal shall start accepting loan applications from Street Vendors from July 2nd, who can apply directly or with the help of CSCs/ ULBs/ SHGs.

The Mobile App facilitated with e-KYC module and loan application flow, to be used by lenders and their agents for application origination, shall be released during this week.

The Portal integration with various lenders shall commence during this week and over next few weeks we hope to complete this integration with all the major lenders.

The module for enabling street vendors to apply directly for Letter of Recommendation (LoR) to the concerned ULB will be ready by July 10, 2020.