MCC tops among 11 Corporations in loan disbursement for Street Vendors

MCC tops among 11 Corporations in loan disbursement for Street Vendors

December 3, 2020

Mysore/Mysuru: The Mysuru City Corporation (MCC) has been in the forefront in the implementation of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), a special micro-credit facility for street vendors. Of the total 11 Corporations in the State, the MCC has been in first place in receiving applications and disbursing loan to eligible vendors.

The MCC had been given a target of sanctioning loan to 12,454 street vendors through banks. So far, 13,325 applications were received and Rs.10,000 loan each had been given to 769 vendors. As many as 1,913 applications were under scrutiny.

Hubballi-Dharwad Municipal Corporation has received 9,809 applications, Tumakuru City Corporation-3,047 applications, Vijayapura City Corporation-3,247, Shivamogga City Corporation-2,943, Ballari City Corporation-3,725, Belagavi City Corporation-3,918, Kalaburagi City Corporation- 4,318, Davangere City Corporation-3,516 and Mangaluru City Corporation has received 2,776 applications from street vendors. 

The Bruhat Bengaluru Mahanagara Palike (BBMP) was given the target of 87,499 applications but so far, only 16,915 street vendors have submitted the application forms.

Among districts, Mysuru was in 9th place in Karnataka with 16,696 applications received as against the target of 14,824.

Good scheme

MCC Commissioner Gurudatta Hegde termed PM SVANidhi as a good scheme for street vendors in the current COVID-19 pandemic. The features of this schemes are: seven percent subsidy in interest and mico-credit facility without security. The vendors will get cash back of Rs.1,200 annually in case they do business using digital applications like Bhim, Google Pay and PhonePe. They are entitled for more loan facility in case of prompt repayment.

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Those interested to avail loan may submit applications online Applications will be scrutinised in respective banks and the eligible will be selected in a phased manner, said A. Shivappa, Community Organising Officer, Day-NULM Department, MCC.


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