India is collectively contributing to Hon’ble PM’s clarion call of an #AtmaNirbharBharat. In an interview on 22.07.2020 to AIR #SAMVAD, I shared my views on the microcredit facility scheme of my Ministry, #PMSVANidhi.
The scheme has been launched to help street vendors revive their businesses affected due to COVID-19 lockdown.
I am delighted to share that in last 3 weeks, over 2.60 lakh street vendors have applied for working capital loan under #PMSVANidhi & over 64,000 have been sanctioned.
This is an all out effort to help Nano Entrepreneurs of urban economy move up the economic ladder.
With the launch of the Web Portal & Mobile App & digital aggregators on board, this is going to be the first of its kind coming of age paperless digital mode micro credit facility.
Street vendors will be provided interest subsidies on timely repayment and cash back for use of digital transaction directly into their account.
To make a #SelfReliant India, we need to enthuse every segment of the society deliver in the economic process. This scheme will enable self reliance among street vendors & in turn contribute to the economy of a #SelfReliant & #SelfSustaining India.
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