BMC disburses loan to 10,000 hawkers under PM SVANidhi

The Brihanmumbai Municipal Corporation has planned to disburse loan to over one lakh hawkers under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)

The Brihanmumbai Municipal Corporation has planned to disburse loan to over one lakh hawkers under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi). Of the 20,000 applications the civic body has received so far, the loan has been given to 10,000 beneficiaries.

Mumbai, India - August 02, 2022: Hawkers encroach the footpaths selling their goods in front of the shops by paying rent to shop owners at Hill Road, Bandra, in Mumbai, India, on Tuesday, August 02, 2022. (Photo by Vijay Bate/HT Photo) (HT PHOTO)

Sanjog Kabare, deputy municipal commissioner (special), said, “Hawkers will first have to enrol themselves on the central government portal. We will then recommend them for the benefit. This loan isn’t just for licensed stall owners but also for hawkers who want to set up their businesses.”

Hawkers who have been issued identity cards and also those whose survey has been conducted but have not been issued a licence are eligible for the scheme.

The loan is for purchase of vegetables, fruits, food articles, bread, eggs, footwears, clothes, handicrafts, stationery, pan stalls, and books among others.

“This scheme was started during the Covid-19 pandemic to help people who lost their businesses. Already 20,000-odd hawkers have applied for this loan and 10,000 have got it. The remaining applications are in process,” Kabare said.

The scheme is applicable to hawkers who worked prior to March 24 when the lockdown was announced.

As per the scheme, the loan will be given for a period of one year. Those who repay in time will be eligible for an additional loan. A grant of 7% interest will also be deposited in their accounts quarterly. Online payments will attract cash back incentives.