BENGALURU: Union Minister of State for Finance Bhagwat Kishanrao Karad directed Urban Local Bodies (ULB) to organise SVANidhi Mela for street vendors to avail loans starting from Rs 10,000. Karnataka has achieved 68 per cent in getting PM SVANidhi scheme (loan for street vendors), covering 3.2 lakh of 4.3 lakh beneficiaries.
A sum of Rs 423 crore has been disbursed so far. In order to help more vendors avail of this scheme, banks have been directed to open kiosks every Wednesday to resolve scheme-related issues. The certificate issued for this will make them official street vendors, and can protect them from police and corporation authorities.
According to Karad, there are allegations that vendors will have to run from pillar to post to avail of the bank loans. “We have instructed both public and private sector banks to approve their loans. Beneficiaries should have registered their names in ULBs, have bank accounts and Aadhaar cards,” he said.
They have set a target of 50 lakh beneficiaries by December 2023, and have already achieved 43 lakh beneficiaries.
Karad said that if street vendors start using digital transactions through QR code, they will get Rs 100 per month. “In big cities, allegations are that police and corporation staff harass street vendors. The certificate issued under the SVANidhi scheme will make them official street vendors and they can show it to the authorities who come for inspection,” he said.