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Beta Version of PM SVANidhi Portal launched on 29 June 2020

Beta Version of PM SVANidhi Portal launched on 29 June 2020

The Beta version of Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi “PM SVANidhi” Portal was launched on 29 June 2020 by the Secretary of Housing and Urban Affairs, Shri Durga Shanker Mishra.

Key Points:

  • The portal utilises digital technology solutions and offers an integrated end to end Information Technology (IT) interface to the users facilitating them ways and means to avail the benefits under the scheme.
  • The Ministry of Housing and Urban Affairs had held comprehensive deliberations with different types of lenders ranging from Banks to Micro Finance Institutions (MFIs) and Non-Banking Financial Companies (NBFCs) when the PM SVANidhi, was launched on 1 June 2020.
  • The government has prepared a detailed operational guideline based on the suggestions that have been received and were issued on 29 June 2020.
  • The operating guidelines for the scheme will be issued by all the lenders to their field offices to enable smooth implementation of the scheme.
  • An integrated IT platform is being developed by Small Industries Development Bank of India (SIDBI) which will provide an end to end solution for the administration of the scheme.
  • An important aspect of the scheme is to slowly push the beneficiaries towards digital transactions by collaborating with the Digital Payment Aggregators.
  • In addition, the website will also enable multiple scheme functions namely, e-KYC of applicants, Mobile App, loan application flow, Udyamimitra, integration with UIDAI, NPCI, PAiSA, calculation of digital incentives and payment of interest subsidy etc.

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