GWMC tops in ensuring loans under PM SVANidhi  

Warangal: The Greater Warangal Municipal Corporation (GWMC) has topped in ensuring loans under the PM SVANidhi (Prime Minister Street Vendor’s Atma Nirbhar Nidhi) in two terms in the entire country thanks to the special efforts of the MEPMA (Mission for Elimination of Poverty in Municipal Areas) team.

“In the first tranche (term) 28,578 street vendors were sanctioned loans under PM SVANIdhi at the rate of Rs.10,000 each and loan disbursed to 27,469. State Bank of India with 11,839 sanctions topped in sanction of the loans, while the union Bank of India stood in the second place with 5,001 sanction and Indian Bank with 2,184 sanctioned,” said GWMC commissioner P Pravinya.

“In second tranche, 7,299 street vendors were sanctioned a loan of Rs.20,000 each and loan disbursed to 5,067 street vendors. 15,589 street vendors repaid the loan and got eligibility for a second term,” she said.

She also added that the percentage of repayment was more than 50 percent “So far Rs 27.46 Crores were sanctioned and disbursed in the first term, and Rs 10.13 Crores were disbursed in the second term. “We could achieve this feat with the active participation of the MEMPA team members. To ensure loans, the GWMC conducted special awareness camps to digitize the street vendors. So far, 27,666 street vendors are doing digital transactions duly obtaining QR codes, and received a cash back of Rs 26 lakhs. We also took up several camps with bankers to make street vendors to get financial literacy,” P Pravinya said.

PM SVANidhi, a central sector scheme launched in June 2020, aimed at providing micro-credit facilities to street vendors affected due to COVID-19 pandemic. “Constituting community based recovery mechanism (CBRM) committees, and special vaccination and health camps were also conducted for the street vendors. Under the State government sponsored ‘Pattana Pragathi’, the demarcation of street vending zones, infrastructure development was also taken up under the GWMC limits,” the Commissioner said.