Context:

The Union Housing and Urban Affairs Ministry in an event recently declared that Madhya Pradesh has won the 'Best Performing State' category award under the PM SVANidhi Scheme.

Key Highlights: 

• After Madhya Pradesh, Assam has secured the second position in the 'Best Performing States- Innovation and Best Practices Award' category.
• The Municipal Corporation of Delhi (MCD) has been awarded first place in the 'Best Performing ULBs - Loan Performance with mega and million plus cities' category.
  Following MCD are the Bruhat Bengaluru Mahanagara Palike (BBMP) and the Ahmedabad Municipal Corporation.

About PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi):

• The scheme was launched on 1st June 2020 (during the COVID-19 pandemic) and is extended till December 2024. 
• This Central Sector micro-credit scheme is launched by the Ministry of Housing and Urban Affairs (MoHUA) to provide handholding support to street vendors. 
• The scheme facilitates a working capital collateral-free loan of ₹10,000, with subsequent loans of ₹20,000 and ₹50,000 with a 7% interest subsidy only if the first loan repayment is completed.
• The scheme focuses on increasing the digital footprint in India by promoting the use of digital transactions among street vendors. 
• To incentivize the adoption of digital transactions, a cashback of up to ₹100 per month is given to Street Vendors.

Who are street vendors?

• Any individual involved in selling articles, goods, food items, or providing services to the public on streets, footpaths, pavements, etc., either from temporary structures or by moving from one location to another. 

• Vegetables, fruits, and ready-to-eat street food to tea, pakodas, bread, eggs, textiles, clothing, artisan products, books, and stationery. 
• Services offered include: -  barber shops, cobblers, pan shops, and laundry services.