Over 26 lakh beneficiaries availed loans under PM Street Vendors' Scheme

A total of 26,37,266 beneficiaries have availed working capital loan under the Prime Minister Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) Scheme.

This information was given by Minister of State in the Ministry of Housing and Urban Affairs, Kaushal Kishore in a written reply in the Rajya Sabha on Monday. He said, "The number of accounts, where the delay between loans sanctioned and loan disbursed is more than three months is 2,46,238. As of November 25, 2021, the number of loans that have been sanctioned but not yet disbursed is 3,21,504."

The gap is due to a number of reasons, including lack of coordination between lending institutions and the urban local bodies, frequent change of mobile numbers by the street vendors and street vendors not visiting the bank branches for documentation formalities. Ministry regularly conducts review meetings with the lending institutions and the States/ULBs to streamline the process and expedite disbursement of sanctioned loans.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor