As many as 53.7 lakh eligible applications have been received so far under the PM SVANidhi scheme that was launched two years ago to provide street vendors whose businesses were hit by Covid-19 with working capital loans.
So far, 36.6 lakh loans were sanctioned and 33.2 lakh disbursed, which amounts toRs 3,592 crore.
About 12 lakh vendors have repaid their first loan as part of the scheme that involves application for and disbursal of loan in three stages, with the non-performing assets accounting for 12-13 per cent of the loans disbursed.
Union Minister for Housing and Urban Affairs Hardeep Puri, who on Thursday launched the SVANidhi Mahotsav, a series of cultural events for the beneficiaries of the Prime Minister's Street Vendors AtmaNirbhar Nidhi Scheme, said the non-performing assets under the scheme were so far not a matter of concern. “As many as 12 lakh street vendors have paid back the loan. The NPAs under the scheme are not a matter of concern. The NPAs are manageable,” he said.
Puri said for a scheme that involves disbursal of small capital loans, loans worth almost Rs 3,600 crore is phenomenal. The scheme was launched on July 2, 2020 in the aftermath of Covid-19 with the aim of providing finances to street vendors whose livelihoods had been badly affected by the pandemic and the restrictions imposed to curb the spread of the virus.
The scheme involves an initial disbursal of loan of Rs 10,000, with the applicant eligible for a loan of Rs 20,000 after having repaid the first part of the loan. The third stage of the loan involves an amount of Rs 50,000.
As per official statistics relating to the scheme, loans of Rs 10,000 each to 30.23 lakh street vendors have been disbursed. A total of 11.63 lakh loans have been repaid. As per the figures available, 4.35 lakh applicants were given loans of Rs 20,000, of which 417 have been repaid. Only 56 loans of Rs 50,000 have been disbursed, and none of them have been repaid so far.
Puri said as part of the series of programmes aimed at celebrating 75 years of independence, a SVANidhi Mahotsav will be held from July 9 to 31 in 75 cities across states and Union territories to celebrate the scheme along with its beneficiaries and their families.
