PM SVANidhi Scheme: However, amid the scheme’s success, a concern has also emerged. 7,390 beneficiaries have not yet repaid their loan amount. According to banks, they owe approximately ₹10 crore. Banks are now working to locate these beneficiaries to recover the outstanding amount.

According to data from the DUDA department, 56,545 applications have been received in the municipal corporation area so far, of which 54,090 were approved and funds were released to 52,802 applicants. Among these, many are those who, after repaying the first loan, have applied again for an increased amount.

PM SVANidhi Scheme: Those who set an example of responsibility

In Aligarh district, approximately 25,298 beneficiaries have fulfilled their responsibility by repaying their loans on time. They not only maintained the credibility of the scheme but also set an example of honesty. These are the people who, after starting small, have brought their lives back to normal.

PM SVANidhi Scheme: Some left the city, some changed jobs

According to bank officials, many of those who defaulted on loan installments are now working in other cities.

For example, Suresh, who returned to Aligarh from Gurugram after losing his job during COVID-19, took a loan under the Svanidhi scheme to start a cosmetics business. He is now working in Faridabad, but the bank has not received any repayments.

Lakshman, who took a loan to set up a Kachori shop, is now working as a carpenter in the National Capital Region and has been unable to repay the bank.

The scheme will only move forward with responsibility.

Lead Bank Manager Ashok Kumar Soni stated that the process of recovering the outstanding amount has been initiated. Applicants who have not repaid their money will not be eligible for loans in the future. The bank is contacting them based on their documents to recover the amount.

The Pradhan Mantri Swanidhi Yojana provides that if a beneficiary repays the first loan (₹15,000) on time, they become eligible for a loan of ₹25,000 in the next phase and then up to ₹50,000. Therefore, repaying the loan responsibly is essential not only for personal benefit but also to maintain the credibility of the scheme.

The Pradhan Mantri Swanidhi Yojana has shown the path to self-reliance to millions of small entrepreneurs across the country. This scheme is not just a financial assistance, but an initiative to restore self-confidence and dignity. However, its full benefits can only be realized if every beneficiary fulfills their responsibility and repays the loan on time.

Disclaimer: The information provided in this article is based on government departments and available sources. It is intended only to provide information and does not constitute financial advice.