UP gears up to implement PM plan for street vendors

LUCKNOW: The state government is set to execute the exercise of granting Rs 10,000 as working capital to around 15 lakh street vendors hit by lockdown as part of the Pradhan Mantri Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) Scheme, scheduled to kick off in July.
According to the guidelines issued by the department of urban development for the implementation of the scheme, Rs 10,000 would be given as working capital to street vendors, who will have to return the amount to lending banks within a year. No collateral would be required for the loan.

The loan would be provided by scheduled commercial banks, regional rural banks, cooperative banks, non-banking financial companies (NBFC), micro-finance institutions and a few self-help group banks. SIDBI has already partnered with the housing and urban development department at the Centre.
An order, issued by principal secretary (urban development) Deepak Kumar, says the scheme will take in its ambit the vendors which have been working before March 24 (when the first phase of lockdown was imposed) and those who were issued due identity cards by respective local bodies.
The order directs local bodies to carry out a month-long drive to identify street vendors who have been left out and issue identity cards to them.
“Those who were left out in the survey or have been working on the geographical boundaries of local bodies would be required to get a letter of recommendation from their respective town vending committee,” Kumar said.
The scheme would also cover those vendors who were provided help by the state government during lockdown period and the ones who produce proof of membership of the National Association of Street Vendors of India/National Hawkers Federation.
The department has directed local bodies to ensure that all procedures related to letters of recommendation are completed within 15 days.
“If the vendors pay their loans timely or before the due date, they would qualify for further working capital,” the guidelines said.
The vendors would get a subsidy of 7% on interest payable which would be deposited in their account every third month. The scheme will also promote the facility of cashback for digital payments.
The state government will also constitute a nine-member monitoring committee at the state level which will be headed by the principal secretary (urban development).