National

Now, faster credit for urban poor

The Ministry of Housing and Urban Poverty Alleviation (MHUPA) has proposed to appoint a Central nodal agency for speeding up disbursal of bank loans to the urban poor, the Ministry spokesperson said on Sunday.

In its efforts to remove “hurdles” in credit flow for people living in poverty in urban centres, the Ministry, in association with the Ministry of Urban Development, is hosting a national conference on Monday in which several Cabinet Ministers — including Urban Development and HUPA Minister M. Venkaiah Naidu, Rural Development Minister Birendra Singh, Minister for Skill Development and Entrepreneurship Rajiv Pratap Rudy and Minister of State for Finance Jayant Sinha — will be present.

In the daylong conference dedicated to Deendayal Antyodaya Yojna-National Urban Livelihoods Mission (DAY-NULM), the Ministers, bankers and urbanisation experts will discuss “ways and means of scaling up skills training and credit flow for self-employment of urban poor.”

“The conference seeks to promote implementation of programmes for reducing urban poverty based on convergence with other related schemes,” said Ministry spokesperson Aishwar Rao.

Apart from encouraging banks to offer low-interest loans to the urban poor, micro-credit agencies and non-banking financial institutions will be involved in credit delivery.

“Bank lending for self-employment is proposed to be dovetailed with MUDRA loans under the Prime Minister’s MUDRA Yojna,” the spokesperson said.

In the last two years of implementation of DAY-NULM, Tamil Nadu topped in training 1.05 lakh urban poor, followed by Madhya Pradesh, where 72,701 youths were trained.

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Printable version | Feb 21, 2020 7:06:19 PM | https://www.thehindu.com/news/national/Now-faster-credit-for-urban-poor/article14403558.ece

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