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1 lakh loans sanctioned for street vendors

Special Correspondent NEW DELHI 13 August 2020 03:51 IST
Updated: 13 August 2020 00:07 IST

Scheme targets 50 lakh beneficiaries

The Union Housing and Urban Affairs Ministry on Wednesday said over 5 lakh applications had been received under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme for street vendors since it started on July 2 and 1 lakh loans had been sanctioned already.

Economic relief package

The scheme, which was a part of the government’s economic relief package announced in the wake of the COVID-19 pandemic, gives street vendors working capital loans of up to ₹10,000 to be paid back in one year.

The MoHUA statement said the scheme was meant to benefit 50 lakh street vendors across the country resume work after the lockdown.

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