5,600 street vendors register for micro-credit facility

Tribune News Service

Amritsar, January 10

Officials of the Amritsar Municipal Corporation claimed that the city registered 5,600 street vendors who had applied to avail loan under the PM Street Vendor’s AtmaNirbhar Nidhi Scheme (PM SVANidhi). More than 1,500 cases have been disposed of in which vendors got Rs 10,000 loan to revive their business.

Jaswinder Singh, Nodal Officer for the PM SVANidhi at the MC, said, more than 6,000 street vendors had registered for the micro-credit facility and some of the applications were rejected during scrutiny.

The government has been encouraging the vendors to register themselves with the government. After registration, the government transfers money in the account of vendor within a month.

The Centre had launched the PM SVANidhi to provide Rs 10,000 to street vendors as initial working capital to revive their businesses, which suffered setback in the wake of the Covid-19 outbreak. Initially, the MC got a lukewarm response to the scheme. Jaswinder and his team organised camps to create awareness among vendors and facilitate them at the MC zonal offices.

The government has constituted a high-power committee of senior officials to review the ongoing process.

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