MADURAI
Around 200 street vendors affiliated to the Centre of Trade Unions (CITU) submitted applications at Madurai District Central Cooperative Bank here on Thursday, to avail themselves of micro personal loans to revive their businesses in these times of COVID-19 pandemic.
S. Santhiyagu, general secretary, CITU-affiliated Street Vendors Association, complained that though the Cooperation Minister announced that micro personal loans up to ₹50,000 would be given to street vendors through cooperative societies and banks, it was an uphill task to obtain loans. “In the past 10 days, many street vendors had submitted loan applications at cooperative banks across the district. But, their applications were not even received by the branch managers,” he said.
Officials often disregarded the applications, saying that they did not adhere to guidelines. “Hence, today all of us have jointly submitted our applications, stressing that many vendors desperately need loans. Due to difficulty in procuring raw materials, lower demand for products and transportation issues, many street vendors are struggling to restart their businesses,” he said.
The officials had said that they would forward these applications and grant loans based on the eligibility of the applicants, he added.