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Ladakh 3rd among UTs in implementing scheme for street vendors

The scheme aims to facilitate collateral-free working capital loan up to Rs 10,000 of one year tenure; incentivise regular repayment through interest subsidy at the rate of 7 per cent per annum and reward digital transaction by cashback up to Rs 1,200 per year, he said. The scheme targets to cover 50 lakh street vendors across the country by March 2022, Sahu added.

PTI | Leh | Updated: 25-11-2020 22:32 IST | Created: 25-11-2020 22:32 IST
Ladakh 3rd among UTs in implementing scheme for street vendors

Ladakh has ranked third among all Union Territories in implementation of PM Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi) scheme to support the street vendors adversely affected due to COVID-19, a senior official said on Wednesday. The Ministry of Housing and Urban Affairs ranked Ladakh in top three UTs on the basis of its performance in implementing the scheme during a review meeting chaired by Prime Minister Narendra Modi, said Ajeet Kumar Sahu, Commissioner-Secretary, Housing and Urban Development Department, Ladakh.

The PMSVANidhi was launched on 1 June 2020, as a component of the Atmanirbhar Bharat to support the street vendors. The scheme aims to facilitate collateral-free working capital loan up to Rs 10,000 of one year tenure; incentivise regular repayment through interest subsidy at the rate of 7 per cent per annum and reward digital transaction by cashback up to Rs 1,200 per year, he said.

The scheme targets to cover 50 lakh street vendors across the country by March 2022, Sahu added. "As part of the scheme, the Ladakh administration and both the Autonomous Hill Development Councils made special efforts to provide the benefit of the scheme to all the street vendors of Leh and Kargil cities," Sahu said.

He said all the eligible street vendors have been provided SVANidhi cards..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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