BBMP to identify street vendors for PM SVANidhi loans

Bengaluru: TheBBMP held a meeting to chalk out plans on the implementation of Pradhan Mantri Street Vendor's Atmanirbhar Nidhi scheme which was launched on June 1, 2020, by the ministry of housing and urban affairs to help street vendors, impacted by the pandemic to resume their livelihood activities.

The scheme intends to provide collateral-free working capital loans up to Rs 10,000 for one-year tenure, to approximately 50 lakh street vendors, to help them resume their businesses in the urban areas, including surrounding peri-urban/rural areas.

BBMP commissioner N Manjunath Prasad said that under the scheme the street vendors will get short-term loans from various banks.

"A survey of street vendors should be conducted by revenue officers in the respective wards in all zones. Street vendors identified in the survey should be given loan applications and the same should be uploaded on the PM SVANidhi portal for quick loan processing by banks," Prasad said.

According to the 2011 census of policy coverage, 85,400 street vendors are identified for lending loans under the scheme.

The BBMP will consult experts to survey the children who are into begging and hawking. The agency has already identified 886 children who are begging and selling trinkets at traffic signals.

Prasad has instructed zonal joint commissioners to finish the survey work quickly.