The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) has been extended to cover 19,000 beneficiaries in the Krishnaraja Assembly segment.
This was stated by the local MLA S.A. Ramdas at PM SVANidhi mahotsava organised on Tuesday. Mr. Ramdas said in the first phase 8,000 beneficiaries were provided interest-free and collateral-free working capital to the tune of ₹10,000. The scheme launched by the Centre is an effort to wean away the street vendors from the clutches of private financiers and money lenders who charge an exorbitant interest.
The concept is to provide a safety net to the beneficiaries’ families and they have been provided an ID card by the government. The beneficiaries will also be informed about various schemes and projects which they can utilise to improve their economic conditions.
Mr. Ramdas said the local authorities including the Revenue Department and the Mysuru City Corporation has prepared a database of beneficiaries and the scheme will be extended to cover all street vendors. While ₹10,000 interest-free loan is extended in the first phase, the vendors are eligible for working capital loan of ₹20,000 and ₹40,000 and higher amount on timely repayment in the subsequent cycles of the scheme.
The event also entailed health check-up camp for street vendors besides distribution of scholarship for their children who had excelled in academics. There were also cultural programmes and training to carry out digital transactions.
