Loan camp for street vendors held

TEZU, 25 Feb: Fifty-five street vendors successfully applied for loans during a three-day ‘loan mela for street vendors’ organized by the Lohit District Urban Development Agency from 23 to 25 February under the PM Street Vendors Aatmanirbhar Nidhi scheme.

Assistant Engineer Keknu Buchi, who inaugurated the mela, encouraged the vendors to get registered under the scheme.

Arunachal State Urban Livelihoods Mission State Mission Manager Ravi Sharma explained the benefits of the scheme and urged vendors to get themselves registered. Speaking on the eligibility criteria, he informed that the scheme is available to all street vendors engaged in vending in urban areas as on or before 24 March, 2020.

“Street vendors who are in possession of vending ID cards are eligible for registration, and provisional certificates will be issued to vendors who have been identified in the survey but have not been issued certificates of vending,” he informed.

Tezu SBI Field Officer Loknath Sharman informed the vendors that “loan for all eligible vendors will be disbursed as and when all documents are found to be correct during scrutiny.”

Labour union president Yalum Ama also spoke.

The loan camp was organized under the PM svanidhi loan scheme of the Deendayal Antyodaya Yojana National Urban Livelihood Mission, which provides special micro credit facility to street vendors “for providing affordable working capital loan upto Rs 10,000 to resume their livelihoods that have been adversely affected due to the Covid-19 pandemic,” Sharma informed in a release, adding that, on timely repayment of the loan, “an interest subsidy at 7 percent per annum will be credited to the bank account of the beneficiaries through DBT on quarterly basis.”