PM’s SVANidhi Scheme: Mangalore City Corporation Organizes Loan Utsav For Street Vendors

PM’s SVANidhi Scheme: Mangalore City Corporation Organizes Loan Utsav For Street Vendors

December 2: Prime Minister’s Atmanirbhar SVANidhi scheme to provide small loans for roadside vendors was held under the joint aegis of district administration, Mangalore City Corporation, town panchayat and private and national banks.  The Prime Minister’s SVANidhi scheme will help roadside vendors receive small loans to resume business and be independent.
The district-level ‘loan utsav’ had been organised by the MCC in association with other urban local bodies to meet the target of distributing loans to 7,500 street vendors in Dakshina Kannada. 4,176 persons in Dakshina Kananda have applied for loans under PM SVANidhi Scheme. Of them, 1,600 who have been sanctioned loans have resumed their business activities.
Dakshina Kannada MP Nalin Kumar Kateel inaugurated the utsav and said that the nationwide lockdown imposed to contain the spread of COVID-19 had pushed many traders, including street vendors, into trouble. Small loans for capital are being extended to them so that they can resume business and make use of the facility, he added.

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