Telangana first State to distribute 100% loans under PM SVANidhi

Hyderabad: Telangana has become the first State in the country to distribute 100 per cent loans to the targeted 3.44 lakh street vendors under the PM SVANidhi scheme. Sharing details, Ministry of Housing and Urban Affairs Secretary Durga Shankar Mishra on Tuesday tweeted, “Heartiest Congratulations to Telangana for becoming the first the State to get […]

Hyderabad: Telangana has become the first State in the country to distribute 100 per cent loans to the targeted 3.44 lakh street vendors under the PM SVANidhi scheme.

Sharing details, Ministry of Housing and Urban Affairs Secretary Durga Shankar Mishra on Tuesday tweeted, “Heartiest Congratulations to Telangana for becoming the first the State to get 100 per cent loan distributed to its targeted 3.4 lakhs PM SVANidhi scheme beneficiaries,”. He further tweeted “This milestone was achieved on the auspicious occasion of Diwali eve. It should inspire all other States and UTs.”

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As many as 4,63,385 lakh applications were filed, of which 3,64,336 were sanctioned and 3,44,932 disbursed. The total amount sanctioned was Rs 364.8 crore and of these, Rs 341.73 crore was disbursed. The total cashback paid to street vendors stood at Rs 65.94 lakh so far. In Telangana, 3,25,852 street vendors are accepting digital payments through QR Codes. As per guidelines, Rs 100 cashback is given to each Street Vendor per month for conducting 200 digital transactions worth minimum Rs 25 each.

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