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1,281 Srirangam street vendors identified for PM SVANidhi
As many as 1,281 street vendors to benefit under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme in Srirangam zone of the civic body. They would be disbursed a sum of Rs 10,000 each to re-launch their business that was hit by COVID-19 pandemic and lockdown.
There are around 3,940 registered street vendors in Tiruchy Corporation’s jurisdiction of which majority falls under Srirangam zone. With 1,319 street vendors actually targeted to be covered in the drive in Srirangam zone, officials said that interested and eligible street vendors if any apply with them will be encouraged to avail the loan too.
With the PM SVANidhi scheme, vendors get easy credit assistance which they can use to buy products to sell. Most of the vendors are dependent on holiday sales when people throng busy streets like NSB Road in Tiruchy that would help them to be self-reliant and resurge from the loss inflicted by the pandemic.
Officials said that the working capital loan comes with an interest subsidy of 7 per cent per annum, the marginal street vendors in need of financial support to boost their business ahead of Deepavali season will make the best use of it to procure goods.
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