Assam CM: Bank authorities to disburse loans to street vendors within December

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Guwahati: Assam Chief Minister Himanta Biswa Sarma on Friday asked the bank authorities to disburse loans to street vendors who have applied for a loan under the Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme within December. While speaking to the media, the CM said that in Assam, around 42, 000 street vendors have applied under the scheme. So far the banks have disbursed loans to some 17,000 applicants. 3,000 more are in pipeline. Chirang DC stresses developing sericulture, handloom sectors ”Today, I have discussed the matter with the bank authorities and asked them to disburse loans to every applicant within this month,” he added. Sarma also asked the bank authorities to provide the second loan within the time to around 800 street vendors who have successfully returned their loans. ”The banks have assured me that it will be done,” he added.

The Prime Minister’s Street Vendor’s Atma Nirbhar Nidhi (PM SVANiDhi) Scheme for the street vendors of urban areas was started by the Ministry of Housing & Urban Affairs (MoHUA). It’s a special collateral-free micro-credit facility launched by the government to provide working capital loans up to Rs. 10,000 with 7 per cent interest subsidy to be provided to the street vendors whose business was hampered during the COVID-19 lockdown.