CURRENT AFFAIRS

Detailed explanation-1: -ANI The government is planning to double the amount of the first tranche to ₹20, 000, according to people aware of the matter. The Centre is planning to double the loan amount for street vendors under Pradhan Mantri Street Vendor’s Atma Nirbhar Nidhi scheme, a major outreach to the largely-migrant beneficiary segment.

Detailed explanation-2: -The PM Street Vendor’s Atma Nirbhar Nidhi (SVANidhi) Scheme was launched in June 2020 as a Micro-Credit facility which aims to empower street vendors to recover losses incurred as a result of the COVID-19 pandemic. Through PM SVANidhi, affordable collateral-free loans are given to street vendors.

Detailed explanation-3: -As reported by the States/UTs, a total of 13, 403 vending zones have been identified so far. The first loan is upto Rs10, 000 followed by the second loan of upto Rs 20, 000 and the third loan of upto Rs 50, 000, on repayment of the earlier loans.

Detailed explanation-4: -The Government of India has extended the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond March, 2022 with the following provisions: Extension of lending period till December 2024; Introduction of 3rd loan of upto ₹50, 000 in addition to 1st & 2nd loans of ₹10, 000 and ₹20, 000 respectively.

Detailed explanation-5: -Around 49.48 lakh street vendors have been identified in India.