Street vendors told to avail loan for developing business
The Hindu
Street vendors in the Corporation limits have been asked to submit the application with necessary documents to the coordinators in respective zones to obtain a loan of ₹ 10,000 under the PM Street Ven
Street vendors in the Corporation limits have been asked to submit the application with necessary documents to the coordinators in respective zones to obtain a loan of ₹ 10,000 under the PM Street Vendor’s AtmaNirbhar Nidhi scheme. Corporation Commissioner M. Elangovan said that the Ministry of Housing and Urban Affairs had launched the special micro-credit facility scheme last year. Under the scheme, street vendors will be given a loan of ₹ 10,000, which they should repay in 12 monthly instalments. Vendors engaged in sale of vegetables, fruits, tea, breads, eggs, textile, apparel, footwear, books and stationery and laundry services are eligible to avail the loan with an interest subsidy component of 7%. They should submit a copy of Aadhaar card, smart card, passport size photo, bank pass book (account should be maintained in a bank branch located within the corporation limits) and EPIC.
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