Mnp CM distributes loans to vendors

Mnp CM distributes loans to vendors
Manipur CM N Biren distributing loans to vendors in Imphal on Thursday. (NP)
Correspondent IMPHAL, Sep 17 | Publish Date: 9/17/2020 12:53:12 PM IST

Manipur chief minister N Biren Singh on Thursday distributed loans to vendors in the state hit hard by the COVID-19 induced lockdown.

Loans were provided to 1269 vendors of different districts to help them resume vending activities which have been affected by the nationwide COVID-19 lockdown. 

Of the total beneficiaries, 803 were street vendors and the loans to them were provided under the Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi). The rest 466 were regular licensed vendors and loans to them were provided under the Pradhan Mantri Mudra Yojana (PMMY)-SHISHU.

The loans were provided to facilitate working capital and opening up of opportunities for the street vendors to move up the economic ladder during and post lockdown, the chief minister said on the occasion.

Singh asserted that the state government understood the financial difficulties faced by the vendors during the pandemic. 

Assuring loans to more vendors hit hard by the lockdown, Singh informed that loans under the schemes would be provided to around 20,000 vendors from different parts of the state. 

The chief minister appreciated the efforts and support of the bank officials in providing loans to the street vendors and appealed to banks to disburse the loan amounts to the remaining applicants as soon as possible.

Speaking on the grim COVID-19 situation of the state, Singh alleged that the rising number of Covid-19 cases in the state was due to the non- compliance of SOPs and protocols issued by the government from time to time. 

He warned of stringent action against those defying  tprotocols under National Disaster Management Act”, while urging the people to strictly follow the guidelines and SOPs issued by the government.

Mentioned may be made that the state government had already distributed loans to 817 vendors of different districts on August 25 last under PM-SVANidhi of the Union ministry of housing and urban affairs. 

PM-SVANidhi is a special micro credit scheme for providing affordable working capital loan to street vendors affected due to the lockdown to resume their livelihoods.

The scheme is valid until March 2022. Under this scheme, the street vendors vending within the limits of an urban local body as on March 24, 2020, can avail working capital loan of up to Rs 10,000, which is repayable in monthly instalments within the tenure of one year. 

On timely and early repayment of loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer (DBT) on quarterly basis. 

The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 7100 per month. The vendors can avail the facility of escalation of the credit limit on timely / early repayment of loan.

On the occasion, the chief minister also distributed awards to officials of Jiribam Municipal Council and Kakching Municipal Council for bagging the Cleanest City in NorthEast India and Best City in citizen feedback awards respectively under Swachh Survekshan 2020 of the Union ministry of housing and urban affairs (MoHUA).

State CAF & PD minister Karam Shyam, PHE minister L Dikho, agricultural minister V Hangkhanlian, forest and environment minister Awangbow Newmai among others attended the occasion.


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