Shillong (Meghalaya), Oct 24: In a grand ceremony held on Tuesday, Oct 22, the State Urban Livelihood Mission (SULM), Urban Affairs Department, Meghalaya, honored key stakeholders who have made significant contributions to the success of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme. This state-level event recognized the dedication of individuals and organizations that have empowered street vendors across Meghalaya.
The ceremony was graced by esteemed dignitaries, including Sanbor Shullai, MLA South Shillong, Satish Kumar Singh, Under Secretary, Ministry of Housing and Urban Affairs, Government of India, Pravin Bakshi, IAS, Commissioner & Secretary of Social Welfare Department, Meghalaya, P.K. Boro, Director Urban Affairs, State Mission Director DAY-NULM & PMSVANidhi, MSULM, Urban Affairs.
The PM-SVANidhi scheme, launched on June 1, 2020, aims to provide collateral-free working capital loans up to ₹80,000 to urban street vendors, incentivizing regular repayment with a 7% interest subsidy and rewarding digital transactions with cashback up to ₹1,200 per year ¹. This initiative has alleviated urban poverty in India, disbursing over 86 lakh loans amounting to ₹11,680 crores to 65 lakh street vendors as of July 17, 2024 .
The PRAISE Awards 2024 acknowledged the outstanding performance of states, urban local bodies, and lending institutions in implementing the PM-SVANidhi scheme. The awards encouraged partnerships for sustainable urban poverty alleviation and recognized innovative practices in empowering street vendors.
