Bhubaneswar, June 17: In a major relief for street vendors across Odisha, the State Government has waived stamp duty on hypothecation agreements executed under all three loan tranches of the PM SVANidhi Scheme.
The decision, issued through an official notification by the Revenue and Disaster Management Department, has been taken under the provisions of the Indian Stamp Act, 1899. With this exemption, street vendors availing loans under the scheme will no longer be required to pay stamp duty on related hypothecation documents.
Officials said the move is aimed at reducing the cost of borrowing and simplifying access to formal credit for small traders and vendors. By removing additional financial burdens, the government seeks to make institutional lending more accessible, affordable, and efficient for beneficiaries.
The PM SVANidhi Scheme, launched by the Centre, provides collateral-free working capital loans to street vendors to help them restart and expand their businesses. The latest exemption is expected to further strengthen the scheme’s impact by encouraging greater participation in formal banking channels.
State authorities noted that the decision aligns with broader efforts to promote financial inclusion and support self-employment among urban informal workers. It is also expected to ease procedural requirements and improve loan accessibility across all three credit tranches under the scheme.
The State Government reiterated its commitment to supporting small entrepreneurs and street vendors in their journey toward economic stability and self-reliance, describing the move as a step toward strengthening grassroots livelihoods and urban informal enterprises.