Guntur: Banks to extend 10,000 loan to street vendors

Guntur: Guntur Municipal Corporation Commissioner Challa Anuradha urged the street vendors to utilize properly loans to be distributed by the bankers and repay the loans within the stipulated time. She addressed petty vendors, MEPMA officials at the GMC council hall on Wednesday.

Speaking on this occasion, she said that there are four types of street vendors in the city. She said, some vendors have ID card, some street vendors have no ID cards. She made it clear that the GMC will distribute ID cards to the remaining street vendors, who were not covered in the survey. She said due to lockdown, street vendors suffered heavy losses.

To restart their business, the banks will extend Rs 10,000 financial assistance to street vendors soon. She said, if the street vendors will repay loans within the stipulated time, the banks will sanction more amount in the days to come.

Lead Bank manager PV Rao urged the street vendors to avail the loan facility to improve their business.

MEPMA Project Director Savitri urged the street vendors to apply for loans through online.

GMC deputy commissioner B Srinivasa Rao, deputy city planner B Satyanarayana were among those present.