Loan distributed to over 1,000 street vendors

Under the PM’s Street Vendors Atma Nirbhar Nidhi (PM SVANidhi), ₹ 10,000 as loan was distributed to over 1,000 registered street vendors in the Corporation limits here on Thursday.The Ministry of Hous

Under the PM’s Street Vendors Atma Nirbhar Nidhi (PM SVANidhi), ₹ 10,000 as loan was distributed to over 1,000 registered street vendors in the Corporation limits here on Thursday. The Ministry of Housing and Urban Affairs had launched the special micro-credit facility scheme in June last year to provide affordable loan to street vendors to resume their livelihood that was affected due to the COVID-19 pandemic. Street vendors, who had received the Certificate of Vending by the Town Vending Committee, can get a loan of ₹ 10,000 under the scheme. At a function held at the Canara Bank’s Karungalpalayam branch, Corporation Commissioner M. Elangovan handed over the cheques to the vendors. He said vendors who had received a loan last year and re-paid it were given an additional loan of ₹ 10,000 this year. The Corporation had set a target of distributing loan to 4,400 vendors this year.