Manipur Chief Minister N. Biren Singh on Monday disbursed loans to another 3,362 vendors in a function organized by Manipur Urban Development Agency (MUDA) at Chief Minister’s Secretariat. Of these total 3,362 loanees, 3015 were benefited under Pradhan Mantri Street Vendor’s Atma Nirbhar Nidhi (PM-SVANidhi) and 347 were under MUDRA scheme. It was the third installment of such aids since August 25 this year. PM-SVANidhi was launched on June 1, 2020 by the Union Ministry of Housing and Urban Affairs to help street vendors recover their financial loss suffered due to COVID-19 pandemic.
In Manipur, 5354 vendors have been benefited so far under PM-SVANidhi and MUDRA schemes. The State Government has set a target of extending assistance to a total of 20,000 vendors. Currently, Manipur is ranked at No. 1 among Hill and North Eastern States category in implementation of PM-SVANidhi for the highest number of loans disbursed till date.
Speaking at the occasion, Chief Minister N. Biren Singh announced that the State Cabinet would resolve to extend PM-SVANidhi and MUDRA schemes to hill districts in the Cabinet 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 of the State, the Chief Minister lauded women’s role in the economic activities of Manipur. Shri N. Biren Singh informed the gathering that 10 new women’s markets would be constructed in different hill districts and in Bishnupur and Sekmai of valley districts.
Expressing appreciation to different banks for extending financial help in the form of loans to vendors and others, N. Biren Singh said that the banks, which provide maximum help to needy people, would be rewarded in the next Independence Day celebration. He also urged the banks to extend full cooperation and help to each and every person, who comes to them to seek information or financial help. The Chief Minister also said that being a people’s representative, he would not tolerate any form of ill-treatment to his people by any bank.
In his speech, MAHUD Minister Okram Henry said that though the amount given to each vendor was small, it was valuable because it would help them restart their business and ease the hardships given by the current pandemic. The State Government under the leadership of Shri N. Biren Singh worked so hard to extend assistance to vendors. He also urged them to repay the loans on time so that they might apply for a bigger amount.
Under PM-SVANidhi, each street vendor can avail loan up to Rs 10,000 repayable in monthly installments within a period of one year. The scheme provides interest subsidy of 7% on regular and timely repayments and also incentivize digital transactions by vendors by providing monthly cash back up to Rs. 100. Further, the vendors can avail the facility of escalation of the credit limit on timely early repayment of loan.