Working capital loans disbursed to nano entrepreneurs such as street vendors in India under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme have crossed Rs 31 billion. The scheme was launched in June 2020 to offer collateral-free working capital loans up to Rs 10,000 for one year tenure. Over 4.5 million applications were received as of March 20, 2022, against which 3.34 million loan applications involving Rs 34 billion were sanctioned. Out of this, 3.01 million applications amounting to Rs 31.37 billion have been disbursed via 154,000 branches of various banks, non-banking financial companies, micro-finance institutions and Self-Help Group banks.
