Panvel civic agency asks banks to disburse loans to street vendors at earliest

The PMC has been conducting ward-wise camps to provide micro-credit to street vendors under the Pradhan Mantri Atmanirbhar (PM Svanidhi) scheme. Camps were recently conducted at Panvel and Kamothe and they received good responses from street vendors.

Amit SrivastavaUpdated: Friday, November 18, 2022, 04:14 PM IST
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Street vendor pushing his cart | Representative Picture

Special camps are being conducted by the Panvel Municipal Corporation at their ward offices to provide street vendors with all facilities under the Pradhan Mantri Svanidhi scheme.

Ganesh Deshmukh, the civic bdy chief has requested the vendors to avail the benefits of the camp.

The PMC has been conducting these ward-wise camps to provide micro-credit to street vendors under the Pradhan Mantri Atmanirbhar (PM Svanidhi) scheme. Camps were recently conducted at Panvel and Kamothe and they received good responses from street vendors.

Representatives of banks like Bank of India, Bank of Baroda, Karnataka Bank, and Central Bank of India have joined hands with the civic body. PMC has asked the banks to approve the applications submitted by the street vendors at the earliest.

Deputy commissioner Kailas Gawde announced that even after the camp, the work to get more street vendors under their jurisdiction to sign up for the scheme will continue in every ward.

Camp at Wards A and B

A camp has been organized on November 16 at Ward 'B' Kalbhairav Mangal Office Kalamboli from 11 am to 4 pm and on November 17 at Ward 'A' Kharghar from 11 am to 4 pm.

What is PM Svanidhi scheme?

Under the scheme, street vendors will get a working capital loan of up to Rupees 10,000 with a repayment period of one year and a 7% interest subsidy if repaid every month.

After their successful repayment of Rs10,000 loan on time, they will be entitled to get another Rs 20,000 and subsequently Rs 50,000 loan respectively.

The said loan will be without collateral and cash back facility on digital transactions has also been given to the beneficiaries.

All the street vendors will be required to bring documents like Aadhaar Card, Bank Passbook, mobile number linked with Aadhaar card, Ration card or electricity bill.

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