Ahmedabad, June 8 (IANS) A PM SVANidhi loan welfare fair was organised at the city’s Kalyan community Hall in Vastrapur area, which saw participation of thousands of people, including many beneficiaries. Several dignitaries, including Ahmedabad mayor Hitesh Barot, attended the event.
Many street vendors participating in the fair were provided with cheques and sanction letters under the PM SVANidhi scheme.
The fair was organised by the Urban Community Development (UCD) department of the Ahmedabad Municipal Corporation under the PM SVANidhi scheme, launched by the Union Ministry of Housing and Urban Affairs. The initiative aims to financially empower urban street vendors and small traders.
More than 100 beneficiaries participated in the fair. They were informed about various welfare schemes. Additionally, training on digital transactions was also provided.
The organisers believe that the fair is not limited to merely providing loans to street vendors but also serves as a crucial medium to connect them with other government schemes.
Ahmedabad Mayor Hitesh Barot stated that loan facilities are provided to make people self-reliant.
Speaking to IANS, beneficiary Radha Ben Naika said, “My situation has improved since receiving the SVANidhi loan. I first received a loan of Rs 10,000, and now I have received one for Rs 25,000. I started a clothing business, which has been very profitable for me. The loan is helping me support my family and fund my child’s education. A big thank you to Prime Minister Narendra Modi. With the help of this loan, I am earning an income.”
Beneficiary Vaishali Soni told IANS, “I have come here for the SVANidhi loan. I have benefited greatly from it and have availed the advantages of government schemes. I received a loan of Rs 50,000. I express my gratitude to the government. This loan is very helpful for middle-class families. I also extend my thanks to the Chief Minister and the Gujarat government.”
Notably, the PM SVANidhi has emerged as a major initiative supporting vendors working across the country’s informal urban economy. Beyond providing collateral-free loans, the scheme has encouraged digital adoption, improved access to institutional credit, and expanded social security coverage.
Since its launch in 2020, more than 1.12 crore loans have already been disbursed. The initiative has benefited over 75 lakh beneficiaries across cities and towns. Loans worth over Rs 17,800 crore have been provided under the scheme.
Under the scheme, loans are disbursed in tranches of different capacities. The first limit is at Rs 10,000, the second tranche amounts to Rs 20,000 to Rs 25,000, and the third phase entails the vendor to avail a loan up to Rs 50,000.
–IANS
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