As a part of Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) scheme, Durga Shanker Mishra, Secretary, Ministry of Housing & Urban Affairs, launched the Application Programming Interface (API) integration between the PM SVANidhi portal and the State Bank of India portal.
The integration will facilitate seamless flow of data between the two portals i.e. PM SVANidhi portal and SBI’s eMudra portal in a secure environment and expedite the loan sanctioning and disbursement process, which will benefit the street vendors seeking working capital loan under the scheme, said a ministry press release.
It added that the ministry would be exploring similar integration with other banks as well for which a consultative meeting will be held shortly.
The ministry is implementing PM SVANidhi Scheme since June 1 for providing affordable working capital loan to street vendors to resume their livelihoods that have been adversely affected due to COVID-19 lockdown. The scheme targets to benefit over 50 lakh street vendors who had been vending in urban areas, on or before March 24, including those from surrounding peri-urban/ rural areas.