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Earlier, UD & Housing executive engineer Nich Jacob informed that 372 street vendors from the district had had been identified under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) which is a special micro-credit facility for street vendors under AtmaNirbhar Bharat scheme. Of them, 247 had been recommended for bank loans and 149 had been sanctioned loans so far.
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The scheme which is funded in the ratio of 75:25 by the centre and the state, an individual can approach for setting up micro-enterprises to the tune of Rs 2 lakhs while a group enterprise can approach for bank loans upto Rs 10 lakhs. The annual rate of interest of the loan is 7% and the repayment period ranges from 5 to 7 years.