The central  government is trying to make everyone self-reliant by implementing various schemes. The "Prime Minister Street Vendors' Self-Reliant Fund (PM SVANidhi)" scheme is currently underway to help small businesses and street vendors. Those eligible for this scheme can also receive credit card access along with loans.

Under the PM Street Vendors Scheme, vendors are provided loans without any guarantee in three stages: The first stage provides loans of up to ₹15,000, the second stage provides loans of up to ₹25,000, and the third stage provides loans of up to ₹50,000.

Who will get the credit card?

Street vendors who have repaid their second-stage loan under PM SVANidhi on time and are eligible for or have already received a third-stage loan can avail a UPI-linked RuPay credit card. The credit limit for this card is up to ₹30,000. Beneficiaries who have fully repaid their third-stage loan can also apply for this facility.

Tax-free credit for 20 to 50 days
The main advantage of this credit card is that you can get tax-free credit for 20 to 50 days if you pay your bills on time. To promote digital transactions, street vendors are being offered a cashback incentive of up to ₹1,600 on retail and wholesale digital transactions.

PC: Money9live