Imphal, June 6:
Minister (TA & Hills) Vungzagin Valte hold a meeting with all the Banks (Public & Private) operating within the district yesterday at DTC Hall, Tuibong.
During the meeting, Minister Valte said that all ATMs will remain open 24×7 and the smooth banking operations and related activities are essential for the livelihood of the people. The Minister also asked the bankers to take a relook at their practices to ensure not to turn down PM SVANidhi scheme beneficiaries of their timely disbursement of loans sanctioned on the apprehension of prospective bad loans. “The banks should disburse the PM SVANidhi schemes to the approved beneficiaries as soon as possible” the minister stated.
It is decided during the meeting that banks operating within the district will be divided into A and B. A group which consists of Axis Bank, Bank of Baroda, HDFC, MRB, MSCB, SBI/CCP, SBI/Pearson, UCO Bank, Thanlon SBI and ICICI will be opened for transaction on Mondays, Wednesdays and Fridays whereas B group which consists of Canara Bank, CBI, IDBI, PNB, SBI/ Tuibong, SBI/New Lamka, SBI/Loktak, Bank of Baroda/Vijaya Bank and MRB/Saikot will be opened on Tuesdays, Thursdays and Saturdays.
The local administration will provide for adequate security at bank branches to maintain social distancing and adequate staggering of bank account holders in the bank.
It may be mentioned that, under the PM SVANidhi scheme, street vendors can avail of collateral-free working capital loans up to Rs 10,000 of one year repayment period. An interest subsidy at 7 percent per annum is credited to the street vendor’s account on timely early repayment. The number of LoR applications received in relation to PM SVANidhi in the district is 321 out of which 293 are already approved.