Churachandpur: As part of the ongoing Seva Sankalp Abhiyan, the Autonomous District Council, Churachandpur (ADCC) organized “Lok Kalyan Mela”, an awareness campaign under PM SVANidhi Scheme for street vendors, vegetable vendors and fruit sellers at Nute Bazar, Hill Town, Churachandpur today. The campaign is being organized under the supervision of Shokhongam Baite, MCS, CEO, ADCC.
The Bank delegates from IDBI Bank S Thanglallun Ngaihte, Assistant Manager and HDFC Bank Officer, N Pauzalam attended and gave awareness to the street vendors under PM SVANidhi Scheme.
They informed that PM SVANidhi stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi. It is a Government of India scheme for eligible street vendors and provides a collateral-free working-capital loan.
On loan stages, they informed that first loan is upto Rs. 15,000; second loan is upto Rs. 25,000 after successful repayment of earlier loan and subject to eligibility; third loan is upto Rs. 50,000 subject to eligibility. They clarified that these are loans, not free money; the vendor has to repay the loan with applicable interest.
On interest subsidy, they explained that the bank charges applicable interest on the loan; eligible beneficiaries can receive 7% interest subsidy under PM SVANidhi; 7% does not mean the bank charges only 7% interest; it does not mean 7% of Rs. 15,000 is automatically returned; the subsidy is calculated according to the scheme on the eligible outstanding loan and repayment conditions; it is generally credited to the beneficiary’s bank account.
Regarding documents required, they informed that Aadhaar Card; Mobile Number; Bank Account/Passbook details; Vendor ID / Certificate of Vending, if available; Letter of Recommendation (LoR), where applicable; and Photograph, if required are needed to apply.
They gave the main message to vendors that “PM SVANidhi” is a loan, not free money. You can use the loan to support your vending business. Repay it properly and on time, and you may become eligible for the next higher loan.”
T. Paominlien Haokip, AI, ADCC stated that Vendor License is mandatory to avail loan; ADCC will assist vendors in obtaining the same; vendors operating without license are liable to be booked as per law. He informed that vendors can obtain license from ADCC Town Office on payment of Rs. 500/- by submitting Xerox copy of Aadhaar Card; Domicile/Residential Certificate issued by local Village Authority; and passport size photograph. He urged all vendors to obtain license and maintain cleanliness in and around their vending areas.
Merry Neihoilhing conducted the program , Mang delivered welcome addressed and K. Lalrammawia, Executive Officer, ADCC and Nodal Officer of the campaign delivered vote of thanked to the participants during the function.
Thongkholet Mate, Finance Officer, ADCC, officials of ADCC and large numbers of vendors from the locality attended the campaign.
