IT News
Imphal, July 26:
Dr. Rajkumar Ranjan Singh, Minister of State for External Affairs and Education visited Imphal on July 26, 2022 to attend the SVANidhi Mahotsav celebrations hosted by the Manipur Urban Development Agency. MOS Dr. Singh was accompanied by Yumnam Khemchand Singh, Minister of RD&PR and MAHUD, Govt. of Manipur, during the event.
The PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) scheme was launched by the Ministry of Housing and Urban Affairs, Govt. of India in June 2020 to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment. The scheme aimed to facilitate collateral free working capital loans of up to INR 10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas. PM SVANidhi Scheme was launched as a part of Atma Nirbhar Bharat Abhiyan with the primary objective to provide collateral free micro working capital loans to street vendors, who were adversely impacted due to pandemic. Since its launch, PM SVANidhi has scaled many milestones and till date 30.3 lakh street vendors have availed credit under this scheme. This scheme has become one of the fastest growing credit schemes of the country till date.
The SVANidhi Mahotsav is being celebrated in 75 cities across India as part of AKAM – India’s 75th year of independence, under the aegis of the Ministry of Housing and Urban Affairs, to honour the street vendors with PM SVANidhi demonstrating good credit discipline, digital behaviour and business acumen.
During his remarks, MoS Dr. Singh highlighted the importance and contributions of street vendors to the economy of the country. He also highlighted the importance of good credit discipline, for growth of any business. He handed over various awards to participating street vendors for maintaining credit discipline, adoption of digital transactions under PM SVANidhi and also to the three best performing banks in credit disbursement under PM SVANidhi Scheme. A short play by Team NOKPHADE and other cultural performances concluded the event.
