Over 27-lakh applications received under scheme for street vendors

The Housing and Urban Affairs Ministry said on Wednesday that it had received over 27.33 lakh applications so far under a special microcredit facility scheme, which street vendors can avail to get loans of up to Rs 10,000. A total of 7.88 lakh loans have been disbursed so far under the PM Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi).

The Housing and Urban Affairs Ministry said on Wednesday that it had received over 27.33 lakh applications so far under a special microcredit facility scheme, which street vendors can avail to get loans of up to Rs 10,000. Over 14.34 lakh out of 27,33,497 applications have been sanctioned. A total of 7.88 lakh loans have been disbursed so far under the PM Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi). Vendors who had left for their native places due to the coronavirus lockdown were eligible for the loan on their return, according to a statement.

The provision of loans has become hassle-free as one can upload the application online on their own at any common service centre or municipal office, or by going to a bank, it stated. In a post on Twitter, HUA Secretary Durga Shanker Mishra said: "#PMSVANidhi moving ahead! Over 27 lakh applications have been received under Hon'ble PM's visionary #PMSVANidhi scheme. More than 14 lakh have been sanctioned & nearly 8 lakh loans disbursed. #AatmaNirbharBharat #AatmaNirbharVendor." "In order to ensure fast implementation of the scheme with transparency, accountability and consistency, a digital platform with web portal/mobile app has been developed to administer the scheme with end-to-end solution," the ministry said in a statement.