Manipur to provide loans to 20 000 vendors whose businesses hit by lockdown

    Imphal, Aug 25 (PTI) Manipur Chief Minister N Biren
Singh said on Tuesday that his government will provide loans
to around 20,000 vendors whose livelihoods were affected due
to the lockdown.
    The credit will be extended to them under two central
schemes so that they can restart their small businesses, he
said.
    As part of the financial assistance programme, the
chief minister distributed loans to 817 vendors on Tuesday, a
statement issued by the government said.
    "At least 368 vendors were benefited under the Pradhan
Mantri Street Vendor's Atmanirbhar Nidhi, and 449 licenced
vendors were provided financial assistance under the Pradhan
Mantri Mudra Yojana," it said.
    Singh said his government is aware of the fact that
the vendors are facing hardships in the last five months as
their businesses were hit by the lockdown.
    "Loans would be provided to around 20,000 vendors from
different parts of the state," the statement quoted the chief
minister as saying.
    Singh said the state government is consulting with the
banks for smooth disbursement of loans to the crisis-hit
vendors.
    The Pradhan Mantri Street Vendor's Atmanirbhar Nidhi
is fully funded by the Union Ministry of Housing and Urban
Affairs with the objectives to facilitate working capital loan
up to Rs 10,000 for street vendors and hawkers.
    The scheme will incentivise the vendors for regular
repayments, an official said.
    It will help formalise the street vendors and open up
new opportunities, he added. PTI COR
BDC BDC

(This story has not been edited by THE WEEK and is auto-generated from PTI)