Ramban I March 21, 2025-In a significant step toward supporting small-scale entrepreneurs, J&K Bank has provided financial assistance to 137 street vendors in Ramban under the Pradhan Mantri SVANidhi Yojana . This initiative, aimed at uplifting the livelihoods of street vendors and small business owners, has enabled these individuals to sustain and grow their businesses through accessible, collateral-free loans.
The PM SVANidhi Yojana, launched by the Central Government in 2020, was designed to offer financial relief to street vendors affected by the COVID-19 pandemic. The scheme provides loans of up to ₹50,000, with amounts increasing based on timely repayments, requiring only an Aadhaar card for eligibility. In Ramban, J&K Bank has played a pivotal role in disbursing these loans, empowering local vendors to meet their working capital needs and improve their economic stability.
This development reflects the broader impact of the PM SVANidhi scheme, which has disbursed over ₹13,422 crore in loans to street vendors nationwide as of December 2024, according to government reports. The initiative not only fosters financial inclusion but also supports the self-reliance of small-scale traders in rural and urban areas alike.
Local officials and beneficiaries have hailed the effort as a game-changer for the region’s street vendor community. “These loans have given us the means to keep our businesses running and provide for our families,” said a vendor from Ramban, who recently received funding. The involvement of J&K Bank ensures efficient delivery of the scheme’s benefits, aligning with the government’s vision of an Atmanirbhar Bharat (Self-Reliant India).
The PM SVANidhi Yojana continues to be a lifeline for millions of street vendors across India, with J&K Bank’s efforts in Ramban serving as a model for how financial institutions can drive grassroots economic growth. As of today, March 21, 2025, this milestone underscores the ongoing commitment to supporting small businesses in Jammu & Kashmir and beyond.
For more information on how to apply for a loan under the PM SVANidhi scheme, eligible vendors can visit their nearest J&K Bank branch or access the online portal with their Aadhaar details.