The government is giving a loan of 50 thousand rupees without interest | know the terms and conditions

The government is giving a loan of 50 thousand rupees without interest

The government is giving a loan of 50 thousand rupees without interest

The state and central government are making all possible efforts to make the youth of the country self-reliant and employable. At the same time, the government is also paying special attention to those involved in small businesses. For this, the Modi government is running one scheme after another. One such scheme is PM Swanidhi Yojana. Under this scheme, the central government is providing interest-free loans of up to Rs 50,000 to street vendors to start their operations and expand their operations.

The special thing about this scheme is that you don’t need any document for this. The government has launched this scheme especially for street vendors. Also, once the loan is repaid, the beneficiary can get twice the loan amount without interest rate (PM Swanidhi Loan Status) the second time. The loan amount taken under this scheme can be repaid within a period of one year. Apart from this, the beneficiary can also repay the loan in monthly installments.

Let us tell you that the central government is giving huge subsidy to the beneficiaries on this loan. Along with this, cashback is also being given to the borrowers. During a cabinet meeting chaired by Prime Minister Narendra Modi, the validity of the scheme has been extended from March 2022 to December 2024. The scheme aims to alleviate the economic problems faced by street vendors and make them self-reliant. Also, they have to be encouraged for digital payments.

What is PM Swanidhi Yojana?

PM Swanidhi Yojana This is a government scheme. It aims to provide financial assistance to people involved in cottage industry and to increase the business of street vendors and street vendors and to overcome the financial problems faced by their business. Under this scheme, the central government is giving a loan of 50 thousand rupees without interest rate.

At the same time, after repaying this amount in one year, the borrower can take double amount as loan. Also, you will not need any guarantor to avail this scheme. Needy people can avail this scheme till December 2024. However, keep in mind that only one person from a family can avail the benefit of PM Swanidhi Yojana.

What are the terms and conditions of PM Swanidhi Yojana

Applicant must be a native of India.
Street vendors will be eligible for this scheme.
Those whose business is affected due to Corona epidemic can avail this scheme.
Those who set up roadside stationery shops and small artisans can apply for this scheme.
No guarantor will be required to avail this scheme.
The beneficiary can deposit the loan in lump sum and in installments.

  • Necessary documents
  • aadhar card
  • Voter Identity Card
  • Ration card
  • Photocopy of passbook
  • Passport size photograph
  • How to apply online
  • To avail this scheme, first one has to visit the official website pmsvanidhi.mohua.gov.in.
  • Go to the homepage and click on Apply Loan 10k/Apply Loan 20k/Apply Loan 50k.
  • Enter your mobile number here and an OTP will be sent to your mobile via SMS.
  • After the OTP is verified, the registration form will appear.
  • Then take a print out of it.
  • After this, fill the form completely, scan and upload all required documents.
  • Submit all necessary documents including forms by visiting the Self Funding Centers designated by the Central Government.
  • After verification, the loan amount under Swanidhi Yojana will be credited to your bank account.
  • Keep in mind that you don’t have to pay any kind of fee for this.
  • In such a situation, don’t fall prey to someone’s deception.
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