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Government Loan Scheme: Loan of Rs 50000 is available without guarantee under this government scheme

PM Swanidhi Scheme: Small shopkeepers were greatly affected during the lockdown during the Covid pandemic, to boost their efforts, the government had launched a loan scheme which is becoming very famous again these days. Actually, under this scheme, small business Shopkeepers who do this get a loan without guarantee. Let us tell you, the interest rate in the scheme is also very low. Let us know the complete process in the news below- 

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Breaking News, Digital Desk-  Under PM Swanidhi Scheme, Prime Minister Narendra Modi will interact with its beneficiaries today. Before the talks, PM Modi will also hand over loan checks to one lakh street vendors at Jawaharlal Nehru Stadium in Delhi. After all, what is this Swanidhi Scheme (what is PM Swanidhi Scheme) and how can it be availed? It is said that whether the work is small or big, it is our own work after all. But, the first requirement to carry forward any work is money. 

Often people borrow money on interest to meet this need (how to apply PM Swanidhi Scheme), but instead of increasing their work, they remain trapped in the debt trap. For such needs, the Central Government had launched a scheme in the year 2020, which is becoming a boon for shopkeepers, small businessmen and street vendors. The name of this scheme is 'Svanidhi Yojana', under which loan is available at very low interest rate without any collateral.

What is PM Swanidhi Yojana?

In the year 2020, when the lockdown due to Covid pandemic affected the people doing small business, the PM Street Vendors (PM loan scheme) Self-reliant Fund (PSY) scheme was started by the Central Government. If you want to take a loan under this scheme, you do not need to pledge anything as security. Under the scheme, an amount of up to Rs 50 thousand is available as loan for one year. The interest on this loan (Sarkari loan scheme) is also very low.

Who can avail the benefit of this scheme?
Those street vendors or small shopkeepers living in urban areas, who are running their business on or before March 24, 2020, can avail loans under this scheme. To avail the benefit of the scheme (without interest loan scheme), the vendor must have a vending certificate from the urban local body. Vendors who have been identified in the survey but do not have vending certificates can also avail the benefits of the scheme through provisional certificates.

How much loan is available?

Under this scheme, loan up to Rs 50 thousand is available without collateral. Once the loan is approved, the first amount of Rs 10,000 is given, after repayment of which you can take a loan of Rs 20,000. 

If you repay this loan of Rs 20 thousand (how to take loan from PM Swanidhi Scheme) on time, then you can get a loan up to Rs 50 thousand. Banks or non-banking financial companies charge interest on this loan as per the guidelines of RBI.

How to apply?

To take a loan under PM Swanidhi Yojana, you will have to contact your nearest government bank. There you will get a form, which you will have to fill and submit to the bank along with the necessary documents (PM Swanidhi Scheme application process). After this, the bank officials will check your form and your work and if everything is found correct, your loan will be passed.