MP creates record in extending loans to street vendors under PM SVANidhi scheme
Bhopal: Madhya Pradesh has made a record in providing affordable working capital loans to 7.69 lakh street vendors engaged in urban areas under the PM SVANidhi (Prime Minister Street Vendor’s Atmnirbhar Nidhi) scheme. “Till July 30, loans were disbursed into the accounts of 7,69774 beneficiaries, out of the 980707 eligible applications registered in the Urban Local Bodies,while 811314 cases have been sanctioned”, Commissioner of MP Urban Administration and Development Department Bharat Yadav told Millennium Post.
“A total of Rs 1030.47 crore loan has been disbursed into the accounts of 7,69774 street vendors in the state in three tranches. In the first, second and third portions, the loan amount and beneficiaries are 566.76 cr and 5.69 lakh, 359.01cr and 1.797 lakh, and 104.7 cr and 21074, respectively,” Yadav said.
According to recent data from the Union Ministry of Housing and Urban Affairs, MP has second place to disburse loans while Uttar Pradesh and Gujrat are in first and third positions respectively. “As of now, we have achieved 68.53 per cent progress against the target of providing loans to 11,10400 street vendors given by the UMoH&UA,” he said.
The whole bit of 5,37102 beneficiaries have been sanctioned loans under the scheme in the 8 identified schemes of the central government, in which Sagar Municipal Corporation has sanctioned 94.06% loans, the highest among 16 corporations of state, the Commissioner informed.
“Similarly, in Nagar Palika Parishads and Nagar Parishads categories, Sausar and Mohgaon of Chhindwara district have topped sanctioning 95.52 and 99.30 per cent of cases, respectively. A total of 361 ULBs are in the state”, he said. The PM SVANidhi is a micro-credit scheme which was launched on June 1, 2020, to provide support to street vendors to tide over the Covid-induced economic stress. It facilitates collateral-free loans of Rs 10,000, with subsequent loans of Rs 20,000 and Rs 50,000 with 7% interest subsidy.
