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Home / Mumbai News / Around 2,500 hawkers apply for loan under PM SVANidhi scheme in Navi Mumbai

Around 2,500 hawkers apply for loan under PM SVANidhi scheme in Navi Mumbai

mumbai Updated: Sep 26, 2020, 00:59 IST
G. Mohiuddin Jeddy
G. Mohiuddin Jeddy

The Navi Mumbai Municipal Corporation (NMMC) has started implementing the Prime Minister’s Street Vendor Atmanirbhar (SVA) Nidhi scheme of the state government.

The scheme offers up to ₹10,000 as working capital loan to hawkers. The scheme was introduced by the central government following the loss of livelihood suffered by the hawkers due to the lockdown in Covid pandemic. The scheme will be available for hawkers in the city who worked prior to March 24 when the lockdown was announced.

Abhijit Bangar, NMMC commissioner, said, “Hawkers who are facing financial issues have little to spare for purchase of goods and commodities to do their business. We are promoting the scheme to help them get that amount to re-invest in business. Everyone from streets vendors, hawkers, handcart owners can benefit from the scheme. The loan is for purchase of vegetables, fruits, ready food articles, bread, eggs, tea, footwear, clothes, handicrafts, stationery, pan stalls and books among others.”

NMMC officials said that around 2,500 applications have been received so far by the civic body, of which 423 have asked for recommendation letters.

Hawkers who have been issued identity cards and also those whose survey have been conducted but have not been issued the licence can apply under the scheme. Those who worked as hawkers prior to March 24 but were not covered under the survey will require a recommendation letter from NMMC.

As per the scheme, the loan will be given for a period of one year and has to be returned in instalments. Those who repay the loan in time will be eligible for additional loan. A grant of 7 per cent interest will also be deposited in their accounts quarterly. Online payments will attract cash back incentive for the hawkers.

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