India News | PM SVANidhi Scheme to Continue Till December 2024

New Delhi, Apr 27 (PTI) The Centre on Wednesday approved the continuation of the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme till December 2024, according to an official statement.

The approval was given by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, the statement said, adding that through PM SVANidhi, affordable collateral-free loans are given to street vendors.

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"Today's approval has increased the loan amount to Rs 8,100 crore, thereby providing the street vendors working capital to further expand their business and making them AtmaNirbhar," the statement said.

The budget for the promotion of digital payments, including cashback to the vendors, has also been enhanced. The approval is expected to benefit nearly 1.2 crore people in urban India, the Centre said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)