The Mysuru City Corporation (MCC) on Saturday launched a drive to bring more number of street vendors under PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme and enable them to avail microfinance at affordable rate.
The drive will continue for a month, the milk vendors and newspaper vendors are being covered under the current exercise. The authorities said that nearly 28,000 registrations have already been done under PM SVANidhi so far covering vendors from other trades.
Mysuru is second in the State in identification of beneficiaries and bringing them under the scheme after Bellary. The PM SVANidhi is a Central government programme to extend working capital to street vendors at an affordable rate of interest to ensure that their livelihood needs are not affected.
It is also an effort to get them out of the clutches of private money lenders charging exorbitant rate of interest and those engaged in usury. The scheme also entails a cash back to the vendors on timely digital repayment of the working capital.
In addition to launching the enrolment drive, vendors who were sanctioned the first and the second tranche of working capital by various financial institutions received cheques on the occasion.
The drive on Saturday was part of ‘’SVANidhi se Samriddhi’’ campaign and former MP Pratap Simha, MLA Srivatsa, former MLA S.A. Ramdas and others were present.
