New Delhi, Oct 25 (IANS): Prime Minister Narendra Modi will interact with the beneficiaries of PM SVANidhi Scheme from Uttar Pradesh on October 27, the Prime Ministers Office said in a statement.

Modi will interact in the event at 10.30 am via videoconference. The interaction will be witnessed by beneficiaries of the scheme from across the state of Uttar Pradesh. Uttar Pradesh Chief Minister of Yogi Adityanath will also be present on the occasion.

PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on June 1 this year to help poor street vendors, impacted by coronavirus pandemic, resume livelihood activities.

The scheme is aimed at empowering individuals from marginalised sections and promoting the government's agenda of building a self-reliant India.

The Centre launched the scheme to facilitate collateral-free working capital loans up to Rs 10,000 for one-year term, to approximately 50 lakh street vendors, to resume their businesses.

Till date, more than 24 lakh applications have been received under the scheme, out of which more than 12 lakh have been sanctioned and about 5.35 lakh loans disbursed.

In Uttar Pradesh, more than six lakh applications have been filed, of which about 3.27 lakh have been sanctioned and 1.87 lakh loans disbursed.