Bhopal: MP tops in implementation, loan to 6 lakh street vendors disbursed, says Minister Bhupendra Singh

PM SVANidhi Yojana

Staff ReporterUpdated: Thursday, November 17, 2022, 10:47 PM IST
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Bhopal (Madhya Pradesh): Madhya Pradesh has topped in the implementation of  PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Yojana and extended loans to more than 6 lakh street vendors so far in the state, said urban development and housing minister Bhupendra Singh, here on Thursday.  

Appreciating the officers and employees engaged in the execution of the scheme, the minister asked them to continue to work hard to maintain the state’s position in future as well.

In the first phase, MP topped the country disbursing Rs 498.77 crore loans to around 5 lakh urban street vendors. In the second phase, loan worth Rs 194.74 crore was disbursed to 97,508 urban street vendors and in the third phase 1,726 vendors have received interest-free loan of Rs 8.59 crore. Besides,  2.26 lakh street vendors have received cash back of Rs 3.15 crore for the digital transactions.

The scheme is applicable to all such street vendors operating in urban areas on and before March 24, 2020, who have certificate of vending/identity card issued by the urban local bodies.

PM Street Vendor Atma Nirbhar Nidhi Yojana” (PM Svanidhi) was launched in 2020 by the Central Government to provide working capital loan of Rs 10,000, 20,000 and 50,000 to street vendors, who were among the most affected class in urban areas during the Covid-19 pandemic, said the minister.

In the first phase of the scheme, an interest-free loan of Rs 10,000 was given to them and on repaying it on time, Rs 20,000 and thereafter Rs 50,000 loan was given to the vendors.

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