IMPHAL, Dec 7 - Manipur ranked first among Hill and North Eastern States category in implementation of Pradhan Mantri Street Vendors� Atma Nirbhar Nidhi (PM-SVANidhi) for the highest number of loans disbursed till date. Informing this during a third loan distribution event on Monday, Chief Minister N Biren Singh said, �Manipur is ranked No.1 among Hilly Region and North Eastern States category in implementation of PM-SVANidhi for the highest number of loans disbursed till date.�First loan distribution was held on August 25 this year.
Biren Singh-led council of ministers distributed loans to another 3,362 vendors, including 3,015 under PM-SVANNidhi and 347 under Micro Units Development and Refinance Agency (MUDRA) scheme at a function organised by Manipur Urban Development Agency in Imphal. PM-SVANidhi was launched on June 1, 2020 by the Union Ministry of Housing and Urban Affairs to help street vendors recover financial loss sustained due to the COVID-19 pandemic.
In Manipur, 5,354 vendors have been benefited so far under PM-SVANidhi and MUDRA schemes. The State has set a target of extending assistance to a total of 20,000 vendors.
In his address during the day�s function, Biren Singh said, �The state Cabinet would resolve to extend PM-SVANidhi and MUDRA schemes to hill districts in a meeting scheduled to be held on December 9 at Senapati district headquarters.�
Stating that improvement of rural economy is the key to enhancement of the overall economy, he informed the gathering that 10 new women�s markets would be constructed in different hill and valley districts.Municipal Administration Housing and Urban Development Minister Okram Henry urged the vendors to repay the loans on time so that they may apply for a bigger amount.
Under PM-SVANidhi, each street vendor can avail loan upto Rs 10,000 repayable in monthly instalments within a period of one year. The scheme provides interest subsidy of 7% on regular and timely repayments and also incentivise digital transactions by vendors by providing monthly cash back upto Rs 100.
