The Panvel Municipal Corporation (PMC) is offering Rs 20,000 financial assistance to street vendors who have already repaid the first Rs 10,000 loan on time. The capital assistance is being offered under the Pradhan Mantri Swanidhi Yojana to street vendors.
According to the civic body, the purpose of the scheme is to promote regular repayment and digital transactions among street vendors.
“Those who have repaid the first loan of Rs 10,000 on time, a loan of Rs 20,000 will be given to the street vendors as they form an integral component of the informal civic economy,” said a senior civic official. He added that they play an important role in ensuring the availability of goods and services at affordable rates as per the financial strength of the city dwellers.
During the lockdown of Covid-19, the livelihood of street vendors had been adversely affected. Therefore, in order to expedite the credit of working capital to the business of street vendors, a special micro-credit facility scheme for street vendors, PM SVANidhi , sponsored by the Central Government, is being implemented in the state.
One can find more information regarding the registration for this scheme on the website www.pmsvanidhi.mohua.gov.in and can also contact the Panvel City Municipal Corporation office on the following mobile number:
