Warangal tops in SVANidhi disbursals

Warangal: The Greater Warangal Municipal Corporation (GWMC) is the top performer in the implementation of PM SVANidhi or Pradhan Mantri Street Vendor's Atma Nirbhar Nidhi scheme to street vendors in the country.

It may be mentioned here that SVANidhi was introduced by the Centre on June 1, 2020 to provide affordable working capital loans to street vendors, who were adversely affected by Covid-19 induced lockdown.

Under the scheme, a street vendor will be sanctioned a loan to the tune of Rs 10,000 at 7 per cent interest, which can be repaid in 12 EMIs. The interest paid of the above 7 per cent rate will be reimbursed under this scheme.

The GWMC stood first in the above 1 lakh to below 10 lakh population category cities in terms of the maximum number of disbursals. Thanks to the urban local body (ULB) which conducted special camps to sensitise the street vendors in availing the loans under the scheme.

Due to the efforts of the ULB, as many as 26,895 street vendors availed a loan of Rs 10,000 each in the city, thereby taking the first place in the country, according to Ministry of Union Housing and Urban Affairs. According to MEPMA officials, 36,773 street vendors had applied for the loan under the scheme.

Of which, 26,895 have got loans from banks. Efforts are on to provide loans to others, MEPMA officials said. Speaking to The Hans India, Mayor Gundu Sudharani termed it as a team effort.

She lauded the ULB and MEPMA officials who strived hard to help the street vendors whose livelihood was affected by the corona pandemic.