Street vendors waiting for working capital of Rs 10K each to become ''Atmanirbhar'' for three months!

Aurangabad, Nov 21:

The Aurangabad Municipal Corporation had received 5,064 applications under the union government''s Pradhan Mantri Street Vendor''s Atmanirbhar Nidhi Yojana, through online. Of which, the AMC''s National Urban Livelihood Mission (NULM) section forwarded 3,100 applications to different banks, three months ago. Ironically, the banks approved 620 files and released loans (working capital) to 243, out of it, so far. Meanwhile, the remaining aspirants are making rounds of the banks.

Under the scheme, the bank will be providing a loan of Rs 10,000 to each street vendor without charging any interest. Those repaying the loan in time would be getting seven per cent subsidy. Earlier, the AMC had done a survey and listed 14,000 street vendors and hawkers in the city. Of which, 5,064 had applied for the loans and become Atmanirbhar, said the sources.

The sources added the desirous applicants are regularly making rounds of the banks to get the loans. The banks are delaying the process of granting loans due to reasons better known to them. One thing is apparent that the applicants are visiting the banks leaving their present petty business on hand at stake.