Prime Minister Narendra Modi. (File image)

Prime Minister Narendra Modi on Tuesday will distribute loans to around 300,000 street vendors under the PM SVANidhi Scheme (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Yojana) via video conferencing.

The Prime Minister will also interact with beneficiaries of the scheme on the occasion.

“Will interact with my brothers and sisters from Uttar Pradesh who sell goods on roads. It will be an opportunity to know how Pradhan Mantri Swanidhi Yojana gave new strength to them,” ?Modi said in a tweet on Monday.

PM SVANidhi Scheme was launched on June 1, 2020, for poor people selling goods on roads and tracks, who were affected because of the Covid-19 pandemic.

Under PM SVANidhi Scheme, street vendors can get working capital of up to Rs10,000 at subsidized rates.

According to reports, over 24 lakh applications have been received under this scheme so far, with 557,000 applications from vendors in Uttar Pradesh, the highest across the country.

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