Govt to conduct profiling of beneficiaries of PM SVANidhi scheme

cities. While the scheme provides the credit facility to the vendors, there is a requirement to ensure that they are able to do business in a harassment free environment, the Minister said.

Puri launched a mobile app for ULB functionaries on the occasion. This app aims to provide user friendly digital interface for the functionaries of ULBs to source loan applications of street vendors.

The minister received feedback from states and UTs. He urged the Ministers of Urban Development and senior officials to hold meetings with key stakeholders towards successful implementation of PM SVANidhi and also to ensure the protection of livelihood of street vendors. During his interaction, Puri said that "states are encouraged to dovetail other schemes for economic upliftment of vendors Mudra or DAY-NULM credit for purchase of modern pushcarts in place of traditional thelas".

With regard to undue harassment of the street vendors by police and municipal officials, the Minister said action should be initiated against the erring officials by fixing responsibility.

"Further, to help beneficiaries raise their grievances in a conducive environment, a forum chaired by District Collector and having representation of police or ULB and other relevant departments should be constituted. The forum so constituted should meet at least once in a month."

Observing that PM SVANidhi is not only a micro-finance scheme, the Housing Minister stated that it has a more ambitious objective to formalise the street vendors into urban economy and to provide a complete poverty alleviation package by facilitating their access to various other government schemes.

It was decided that further meetings will be conducted with the lending institutions in coordination with the Department of Financial Services. Since commencement of online submission of applications on PM SVANidhi portal on July 2 this year, more than 5.68 lakh applications have been received and over 1.30 lakh have been sanctioned in different states and Union Territories (UTs).

APM SVANidhi was launched by the Ministry on June 1 this year for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown. This scheme targets to benefit over 50 lakh Street Vendors who had been vending on or before March 24 this year, in urban areas including those from surrounding peri-urban or rural areas. Under the scheme, the vendors can avail a working capital loan of up to Rs 10,000, which is repayable in monthly instalments in the tenure of one year. On timely or early repayment of the loan, an interest subsidy of 7 per cent per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis. There will be no penalty on early repayment of loan. The scheme promotes digital transactions through cash back incentives up to an amount of Rs 100 per month. The vendors can achieve their ambition of going up the economic ladder by availing the facility of enhancement of the credit limit on timely or early repayment of loan.

( With inputs from IANS )