Expedite disbursal of loans under PM-SVANidhi scheme to beneficiaries: Assam CM

Guwahati, Dec 10 (PTI) Assam Chief Minister Himanta Biswa Sarma on Friday directed the implementing authorities to expedite disbursal of loans under the PM Street Vendors Atma Nirbhar Nidhi (PM SVANidhi) scheme to the beneficiaries.

PM SVANidhi is a special micro-credit facility launched by the Ministry of Housing and Urban Affairs for providing affordable working capital loans to street vendors whose businesses were hit by the coronavirus-induced lockdown.

Assam has received 40,000 applications of which 20,000 have been sanctioned so far. Loans to more than 17,000 beneficiaries have already been disbursed, an official release said.

The scheme aims to facilitate collateral-free working capital loans of up to Rs 10,000 of one-year tenure, to approximately 50 lakh street vendors to help resume their businesses.

The chief minister while reviewing the scheme at a meeting here asked the bankers and executive officers of all the urban local bodies to make special efforts to disburse the amount to help the street vendors resume their livelihood in the post-COVID 19 lockdown period, the release said.

He also asked Chief Secretary Jishnu Baruah to hold virtual meetings with all the stakeholders to enable the targeted beneficiaries reap the benefits of the scheme.

Finance Minister Ajanta Neog, Irrigation Minister Ashok Singhal, bankers, executive officers of urban local bodies, and Deputy Commissioners were also present at the meeting.