Centre has launched Letter of Recommendation (LoR) module for PM SVANidhi Scheme. The module is designed to give access to street vendors who do not have Identity Card (ID) and Certificate of Vending (CoV) and are not in the surveyed list for availing benefits under the scheme.
Daily Current Affairs Quiz 2020
Key-Points
The module is designed to give access to street vendors who do not have Identity Card and Certificate of Vending and are not in the surveyed list for availing benefits under the scheme.
The module provides for an end to end, digitally enabled process wherein an eligible vendor can request for a Letter of Recommendation from the Urban Local Body and on receipt of the same he can apply for loan under PM SVANidhi.
The vendors possessing Letter of Recommendation shall be issued Certificate of Vending or ID Card within a period of 30 days. This provision will help in extending reach of the Scheme to the people who were hitherto unable to avail these benefits.
PM SVANidhi was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020, for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
