Street vendors to get access to an online platform for business and digital transactions, says Modi
Prime Minister Narendra Modi interacting with street vendors in Madhya Pradesh, though video-conferencing, in New Delhi on September 9, 2020.

Street vendors to get access to an online platform for business and digital transactions, says Modi

New Delhi, September 9, 2020

Prime Minister Narendra Modi today said street vendors will be given access to an online platform for business and digital transactions under the PM Svanidhi scheme.

Speaking at a 'Svanidhi Samvaad' with street vendors from Madhya Pradesh, Modi said the scheme was launched on June 1 to help those vendors whose livelihood was affected by the COVID pandemic to resume their business. This was for the first time that lakhs of street vendors were directly connected to the system to draw the benefits.

“The Svanidhi Yojana aims to provide Swarozgar, Svavlamban and Swabhimaan (Self Employment, Self-Sustenance and Self-Confidence) to the street vendors,” he added.

He said the scheme has been made so simple that even ordinary people can connect with it. The vendors will be able to get registered through the common service centre or in the municipality office by uploading the application without having to stand in a queue. A business correspondent from the bank and municipal staff may also come and take collect the application from the street vendors.

The scheme gives up to 7% rebate on the interest and if the money taken from the bank is repaid within a year, they become eligible for getting a rebate in the interest. The beneficiaries could avail of cashback offers in digital transactions. In this way, the total savings will be more than the total interest. The trend of digital transactions in the country has been increasing rapidly during the last 3-4 years, he added.

"This scheme helps people to start afresh and get easy capital. For the first time, a network of millions of street vendors has been truly connected to the system, they have got an identity," the Prime Minister said.

"The scheme helps one get rid of interest completely. Under this scheme, interest rebate of up to 7% is being given anyway. A new beginning has been made in collaboration with banks and digital payment facilitators to ensure that our street vendors do not lag in digital shop-keeping," he added.

In the times of the pandemic, customers were resorting to more digital transactions rather than cash. He urged the street vendors to also adapt to transacting digitally. The Government proposed to set up an online platform to enable the vendors to conduct their business transactions digitally.

The beneficiaries of the PM Svanidhi Scheme would get access to the Ujjwala gas scheme, Ayushman Bharat scheme, etc on a priority basis, he added.

Meanwhile, in Madhya Pradesh, 4.5 lakh street vendors were registered so far, out of which acceptance has been granted to around 1.4 lakh street vendors for an amount of Rs 140 crore.

He appreciated the efforts of the state government in identifying the beneficiaries and disbursing the loans within two months, notwithstanding the effect of the pandemic.

The Prime Minister said any calamity first affects the poor impacting their jobs, food and savings. He referred to the tough times when most of the poor migrants had to return to their villages.

He said the Government, right from the first day, tried to obliterate the difficulties that the poor and the lower middle class have to face owing to the lockdown and the impact of the pandemic. All efforts were made to provide food, ration, free gas cylinders apart from employment through the Prime Minister Garib Kalyan Rojgar Abhiyan.

Through the Pradhan Mantri Jan Dhan Yojana, Bank accounts of more than 40 crores poor, lower-middle-class people were opened and now they directly receive all the benefits and it was easier for them to get loans. He listed similar achievements in other schemes like Digital Health Mission, Pradhan Mantri Suraksha Bima Yojana, Prime Minister Jeevan Jyoti Yojana and Ayushman Bharat.

Modi said in the last six years several measures have been implemented to make the lives of the poor easier in the country. The government had launched a major scheme to provide accommodation in cities and major towns at an affordable rent.

He referred to the One Nation One Ration Card which would enable anybody to get affordable rations anywhere in the country. To improve internet connectivity, the programme of extending optical fibre connection to six lakh villages in the next 1000 days was in progress. This, he said, will join rural India to the domestic and international markets and would further boost rural livelihood opportunities.

The Prime Minister asked the street vendors to maintain cleanliness and follow all the measures to prevent the spread of COVID-19.


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