Street vendors urged to register for PM SVANidhi loan

MIAO, Feb 28: The four-day loan camp for street vendors organised by DUDA here saw more than 80 vendors’ participation.

The camp was inaugurated by Urban Development Minister Kamlung Mossang who is also the vice-chairman of ArSULM.

Addressing the gathering he requested the vendors to get registered and avail the benefits of the schemes and repay back in time so that bigger loan on next time could be availed.

DUDA Executive Engineer also spoke on the occasion.

In his deliberation ArSULM Mission Director urged the vendors to avail the benefits so that in the phase-II, other pro-poor scheme benefits of various central government schemes could be linked.

SMM ArSULM also spoke in the occasion and explained in detail about the scheme and how to apply online.

Out of 83 registered vendors, 22 applied successfully for the loan on Sunday.

The loan camp was organized under the PM SVANidhi loan scheme of  Deendayal Antyodaya Yojana National Urban Livelihood Mission (DAY-NULM) which provides special micro credit facility to the street vendors for providing affordable working capital loan upto Rs 10,000 to resume their livelihoods which have been adversely affected due to Covid-19 pandemic.

The scheme also provides an interest subsidy at 7 per cent per annum on timely repayment of the loan which would be credited to the bank account of the beneficiaries through DBT on quarterly basis, a press communiqué informed here.

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