Loan disbursement camp for street vendors held at Chandigarh MC office

To date, the MC has sourced 2,029 online applications from street vendors of which 1,139 applications have been sanctioned and 911 applications have been disbursed

The municipal corporation on Wednesday organised a loan disbursement camp at the office premises under the PM Street Vendors Atma Nirbhar Nidhi (PM SVANidhi) scheme, which was launched by Prime Minister Narendra Modi for the affected street vendors during the pandemic.

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MC commissioner KK Yadav gave sanction letters to the registered street vendors. He said that the vendors should come forward for applying for the PM SVANidhi scheme and availing discount of ₹500 per month in monthly street vendor’s fees for the loan period. These vendors were extended a loan amounting to ₹10,000 at 7% rate of interest subsidy for a period of one year.

To date, the MC has sourced 2,029 online applications from street vendors by organising various community camps with support from the enforcement wing and DAY-NULM cell, out of which 1,139 applications have been sanctioned and 911 applications have been disbursed.

As many as 77 registered street vendors have been sanctioned/disbursed on-the-spot loan by the Punjab National Bank, the State Bank of India, Punjab & Sind Bank and the Indian Bank.