In Uttar Pradesh, more than 6.5 lakh applications have been received, out of which about 3.27 lakh have been sanctioned and 1.87 lakh loans have been disbursed. The stamp duty has been exempted for the loan agreement of SVANidhi Yojana in UP.
Vendors who had left for their native places due to Covid-19 lock down are eligible for the loan on their return.
In order to ensure fast implementation of the scheme with transparency, accountability and consistency, a digital platform with web portal/mobile app has been developed to administer the scheme with end-to-end solution. The IT platform integrates the web portal/ mobile app with UdyamiMitra portal of SIDBI for credit management and PAiSA portal of MoHUA to administer interest subsidy automatically. The scheme incentivises digital transactions i.e. receipts/ payments using digital means like UPI, QR-codes of payment aggregators, RuPay debit cards etc. by the street vendors through monthly cash back.
MoHUA Secretary Durga Shanker Mishra had earlier tweeted that his ministry is working with all concerned stakeholders to make the process smooth & effortless to realise the objective of Atma-Nirbhar Bharat.
