Loan mela under PM-SVA Nidhi launched

PASIGHAT, 11 Jan: A three-day mela to provide soft loans to the street vendors under Prime Minister Street Vendors Atmanirbhar (PM-SVA) Nidhi (scheme) was launched here in East Siang district on Monday.

State Mission Director Deendayal Antodaya Yojna-National Urban Livelihood Mission, Nixon Lego, who launched the mela, informed that the PM-SVA Nidhi is a scheme for special micro-credit facility to the street vendors to provide affordable working capital loan to resume their livelihood for those who became jobless due to the Covid-19 lockdown.

Under the scheme, the eligible street vendors would be provided Rs 10,000 each, repayable in monthly instalments in a year. The union government would also provide an interest subsidy of seven percent on regular payment, which would be directly transferred to the bank accounts of the borrowers, informed Lego.

Lego informed that the programme is being monitored by the Ministry of Housing and Urban Affairs, the PMO and the prime minister personally through PRAGAT.

In Arunachal, more than 5,000 street vendors have been identified, out of which 1,500 have availed the loan so far.

Under the current urban poverty alleviation programmes, the central government had selected 125 cities, including Itanagar in the first phase and 34 urban cities, including Pasighat in the second phase.

Assistant Town Planner Tani Taloh and local beneficiaries/ applicants attended the programme. (DIPRO)