PM SVANidhi Scheme Empowers Small Traders: Sonowal

Dibrugarh, Sep 1 (KNN) PM SVANidhi scheme with loans ranging from Rs. 10,000 to Rs. 50,000 with 7% interest subsidy scheme is targeted to small traders for self-reliance. 

Speaking at an event organized in Dibrugarh Union Minister of Ports, Shipping & Waterways (MoPSW) Sarbananda Sonowal said. "Through this scheme, an individual can support their family with dignity. The Prime Minister envisioned this strength and created the scheme to financially empower the poor and marginalised”.

The event was organized jointly by the Dibrugarh District administration and Dibrugarh Municipal Corporation (DMC). During the program, the Union Minister interacted with several beneficiaries of the scheme.

Recalling the hardships faced during the COVID-19 pandemic, He said,“When restrictions crippled small businesses and street vendors, Prime Minister Modi launched this scheme to provide relief. Under it, banks were instructed to extend loans to vendors in three phases — starting with ₹10,000, followed by ₹20,000 and ₹50,000 for those who repaid on time. Additionally, successful borrowers were given a 7% interest subsidy.”

The Minister added that the design of the repayment mechanism helped many small traders succeed.
                                                                                                                                                                                 
Later in the day, He inaugurated a Pradhan Mantri Bharatiya Janaushadhi Kendra at Milan Nagar in Dibrugarh, aimed at providing affordable generic medicines to the public.

(KNN Bureau)