Latest news with #PMSVANidhi
Time of India
26-06-2025
- Business
- Time of India
Street vendors to get spaces, loans under PM SVANidhi
Jaipur: State govt is advancing efforts to economically empower street vendors and hawkers by providing designated vending spaces and easy access to credit under the PM SVANidhi scheme. Jaipur Municipal Corporation-Greater has earmarked 27 vending zones, seven of which will be developed into Model Vending Zones. These zones aim to supply street vendors with structured spaces, enabling them to operate their businesses more efficiently and offering convenience to customers. A meeting chaired by Arun Sharma, chairperson of the street vendor rehabilitation committee, was held Thursday at JMC-G to review progress and implementation. Speaking at the meeting, Sharma said camps will be organised across all seven zones to offer eligible vendors collateral-free loans. "Initially, a loan of Rs 10,000 will be given without the need for a guarantor. If repaid within a year, the vendor will be eligible for a Rs 20,000 loan, and eventually up to Rs 50,000," he explained. Sharma also said 5,003 street vendors in JMC-G area will benefit from the initiative. Vendors without vending licences will receive them on the spot during these camps. Emphasising inclusivity, Sharma stated, "The goal of the PM SVANidhi scheme is to ensure benefits reach the last person in the queue." He added that no street vendor will be removed from their location during the monsoon season unless absolutely necessary. To address emergency issues faced by vendors, a dedicated helpline number will soon be launched to provide immediate support and grievance redressal. The PM SVANidhi scheme provides funding to local urban bodies to establish vending zones.
New Indian Express
24-06-2025
- Business
- New Indian Express
Telangana government failed to implement farm loan waiver: Minister Kishan
HYDERABAD: Union minister and BJP state president G Kishan Reddy alleged that despite Central government's efforts, the state government failed to implement the assured Rs 2 lakh farm loan waiver scheme effectively. Addressing the media after chairing the State Level Bankers Committee (SLBC) meeting here on Monday, Kishan Reddy said that around 15,000 eligible farmers were registered with Telangana Grameena Bank. But, funds were not credited to them for the crop loan waiver, he said. Several farmers who took farm loans below Rs 1 lakh were yet to benefit from the loan waiver scheme, he alleged. Kishan Reddy urged the state government to act swiftly, collect accurate information from banks and ensure that eligible farmers receive their crop loan waiver benefits. Kishan Reddy noted that there was a growth in agricultural loans since 2013–14. At that time, the total agricultural loan disbursal in Telangana stood at Rs 27,676 crore. By 2024–25, that figure had increased to Rs 1,37,346 crore — almost a fivefold increase in 11 years, he said and highlighted the Centre's commitment to supporting farmers in Telangana. The meeting mainly reviewed the performance of banks in implementing Central schemes. He reviewed agricultural loans, PM Mudra Loans, PM Vishwakarma Yojana, PM SVANidhi, Stand-Up India and other initiatives. He instructed the officials to prepare detailed information on Vishwakarma Yojana.
Time of India
10-06-2025
- Business
- Time of India
Vendors told to shift to new Morhabadi market building
Ranchi: The municipal corporation (RMC) on Tuesday formally sent notification to 161 selected vendors asking them to shift to the newly constructed vendor market near the Morabadi electricity office at the earliest. Additional municipal commissioner Sanjay Kumar said, "All allottees are to ensure the timely setup of their shops at the assigned stalls or platforms." He added, "The allotment was conducted with full transparency. Vendors who couldn't be allotted due to document issues can reapply during the second phase." The new market, built at a cost of Rs 1.36 crore with capacity to house 218 vendors, marks a push by the Ranchi Municipal Corporation to decongest footpaths and bring order to the vending ecosystem. Initially, 418 applied in April, out of which 169 were shortlisted based on eligibility, including PM SVANidhi registration and vendor IDs issued before March 5, 2022.
Time of India
30-05-2025
- Business
- Time of India
Street vendors to get credit cards, bigger loans
The PM SVANidhi scheme is being revamped to provide street vendors with higher subsidised loans and credit cards with a limit of Rs 30,000, facilitated by banks, ToI reported on May 30. The revamped scheme, which will soon be presented to the Cabinet for approval, aims to extend subsidised loans to street vendors from rural areas migrating to cities. This initiative builds upon the success of the original scheme launched in 2020, which provided respite from high-interest informal sector loans to over 68 lakh street vendors, ToI's report (by Dipak K Das) said. The revamped PM SVANidhi scheme is set to offer enhanced financial support to street vendors. Banks are coming on board to provide credit cards with a limit of Rs 30,000. These credit cards will be issued to street vendors who have successfully repaid the initial three tranches of subsidised loans, which were Rs 10,000, Rs 20,000, and Rs 50,000. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The scheme's expansion includes extending subsidised loans to street vendors from rural areas who move to cities for their livelihood. Sources indicate that an additional Rs 10,000 will be included as part of the enhanced loan amount. The credit card facility is designed to provide street vendors with better credit ratings access to more rolling capital for their businesses. The repayment norms for these credit cards will be determined by the banks. In her Budget speech, FM Nirmala Sitharaman highlighted the impact of the original scheme. Live Events "Building on this success, the scheme will be revamped with enhanced loans from banks, UPI-linked credit cards with Rs 30,000 limit and capacity building support," she added. The original PM SVANidhi scheme was launched in 2020 during the Covid-19 pandemic. It aimed to provide financial relief to street vendors who were often reliant on high-interest informal sector loans. The scheme has already benefited more than 68 lakh street vendors. The revamped scheme seeks to build upon this foundation by offering increased loan amounts and access to formal credit through UPI-linked credit cards. This initiative is expected to provide street vendors with greater financial stability and opportunities for business growth. The involvement of banks in the scheme is crucial for ensuring its effective implementation and outreach. The provision of credit cards will enable street vendors to manage their working capital more efficiently. The credit card facility will allow street vendors with a better credit rating to have access to more rolling capital for business, with the repayment norms being decided by banks. This access to formal credit can help them reduce their dependence on informal sources of financing, which often come with exorbitant interest rates. The inclusion of rural street vendors in the revamped scheme is a significant step towards ensuring that the benefits of the program reach a wider population. Street vendors who migrate from rural areas to cities often face unique challenges in accessing financial services. By extending the scheme to this group, the government aims to provide them with the support they need to establish and grow their businesses in urban areas.
The Hindu
28-04-2025
- Business
- The Hindu
Rotary Bangalore Midtown helps underprivileged access benefits from govt. schemes
In an effort to facilitate those eligible to claim benefits from government schemes, Rotary Bangalore Midtown (RBM) took up an initiative titled 'Windows of Opportunity', that aimed to help 50,000 underprivileged individuals access vital government welfare schemes. Thousands from the city have benefited and so far over ₹4.8 crore has been directly transferred to their accounts from various government schemes, aided by the campaign launched in October 2024. Palani Loganathan, president, Rotary Bangalore Midtown, told The Hindu that so far RBM has registered 27,000 beneficiaries and over ₹4 crore has been transferred directly to the bank accounts under various government schemes. Lack of education and awareness Mr. Loganathan said despite thousands of government schemes being in place, lack of education and awareness continue to keep the poorest from claiming their rightful benefits. To address this, RBM has established helpdesks at locations frequented by the underserved, such as government hospitals and primary health centers. A helpdesk is already operational at Vani Vilas Hospital, with expansion plans under way for St. John's Medical College Hospital, Sri Jayadeva Institute of Cardiovascular Sciences and Research, at Bommasandra, Anekal, and other areas with high populations of construction and industry workers. These helpdesks are manned by representatives of two private firms hired by RBM. Each beneficiary's registration for relevant welfare schemes costs ₹100 and this is borne by the RBM. RBM has committed ₹50 lakh for the initiative. Targeted schemes include Ayushman Bharat, E-Shram Card, Pradhan Mantri Matru Vandana Yojana, PM SVANidhi, widow pension, and other pension schemes apart from numerous State government schemes. 'This project has received a good response from both vulnerable communities and donors. We aim to create a social return on investment exceeding ₹50 crore by helping people access the benefits they deserve,' Mr. Loganathan said.
