PM SVANidhi: Hyderabad tops the list in extending loans

GHMC has extended the highest number of these loans of Rs.10,000 each to 34,878 street vendors so far

Hyderabad: Hyderabad stood first among all cities in the country in extending loans to street vendors under PM SVANidhi Scheme .

The Greater Hyderabad Municipal Corporation (GHMC) has extended the highest number of these loans of Rs.10,000 each to 34,878 street vendors so far. As part of this scheme, the civic body has identified 1,62,105 street vendors, of which details of 1,57,945 have been uploaded in MEPMA portal and cards were issued to 1,54,335.

The objective of PM SVANidhi Scheme was to boost the livelihood of street vendors who had lost their business due to Covid-19 pandemic. Accordingly, the GHMC has issued identity cards facilitating them obtain loans from banks under the scheme.

The GHMC has so far received 67,233 applications of which 34,878 were extended the loan facility. Among other cities, Indore extended loans to 34,855 beneficiaries, Lucknow for 34,195 street vendors, Kanpur for 32,751 and Varanasi for 27,023.

In addition, the civic body has provided training to street vendors on use of digital transactions through online payment platforms like Google Pay, PhonePe, Paytm and Amazon Pay. They were also being promoted to get additional benefit for making atleast 50 digital transactions every month.

PM SVANidhi as on March 27

• Street vendors identified – 1,62,105
• ID cards issued – 1,54,945
• Loan applications in portal – 67,233
• Loans sanctioned – 42,911
• Loans disbursed – 34,878

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