Under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), a loan amount of ₹ 10,000 each was given to 16 registered street vendors in the corporation limits here on Wednesday.
The Ministry of Housing and Urban Affairs had launched the special micro-credit facility scheme in June this year for providing affordable loan to street vendors to resume their livelihoods hit due to COVID-19 lockdown. Street vendors who had received the Certificate of Vending (CoV) by the Town Vending Committee can avail the loan.
At a function held at the Canara Bank at Karungalpalayam branch, Corporation Commissioner M. Elangovan handed over the cheques to the vendors in the presence of branch manager Gopal, and City Health Officer Murali Shankar. Officials said that the loan can be repaid in 12 monthly instalments and there was no need for collateral security. Vendors engaged in sale of vegetables, fruits, tea, breads, eggs, textile, apparel, footwear, books and stationery and laundry services are eligible to avail the loan.
