Hyderabad: GHMC identifies 77,939 street vendors in city

Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has taken up a survey of street vendors to issue identity cards and facilitate loans through banks under the PM SVANidhi scheme.

The scheme was launched by the Government of India to boost livelihoods of street vendors whose businesses have been hit hard by Covid-19 situation, according to GHMC Commissioner DS Lokesh Kumar.

The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors. They usually work with a small capital base, which they might have consumed during the lockdown. Therefore, credit for working capital to street vendors will be helpful to resume their livelihoods.

So far, the GHMC has identified 77,939 vendors and has issued ID cards to 58,435 Nos and issued loans to 9,425 individuals and it is under progress.

Each vendor will be sanctioned loan to the tune of Rs 10,000 at 7% interest which can be repaid in 12 EMIs.

The interest paid out of above 7% rate of interest will be reimbursed under this scheme and digital transactions are being promoted to get additional financial benefit at Rs 100 per month which in turn willl reduce the EMI amount paid by the vendor.

All the vendors are facilitated through street vending associations and their representatives for survey, issue of identity cards and sanction of loans under PM SVANidhi scheme.

The street vendors carrying out business in the limits of GHMC are informed to dial 040-21111111 to know all about issue of ID cards and sanction of loans under PM SVANidhi and to avail of the benefits extended by the Govt of India to lead a dignified life.