27 lakh avenue distributors utilized for micro-credit scheme: govt


By: Express News Service | New Delhi |

November 19, 2020 12:41:29 am





Prime Minister Narendra Modi had not too long ago praised the implementation of the scheme.

Almost 27 lakh avenue distributors have utilized for interest-free financial institution loans underneath a authorities scheme to restart their enterprise after the Covid-19 lockdown, and over 14 lakh of those purposes have been sanctioned, the Centre mentioned in an announcement on Wednesday.

Round 7.8 lakh loans have already been disbursed underneath the Pradhan Mantri Avenue Vendor’s Atmanirbhar Nidhi (PM-SVANidhi), a micro-credit scheme underneath which avenue distributors, who’ve returned from their house states after the lockdown, are eligible for credit score of Rs 10,000 as working capital, the assertion mentioned. PM-SVANidhi was launched to assist kickstart the road merchandising economic system that was hit arduous by the Covid-19 pandemic and lockdown.

The Ministry of Housing and City Affairs has been incentivising digital transactions and pushing states to hurry up the method. There are an estimated 50-60 lakh avenue distributors throughout India.

The federal government plans to show the programme right into a complete poverty alleviation scheme by mapping the socio-economic profile of the beneficiaries and linking them with Central welfare measures.

Prime Minister Narendra Modi had not too long ago praised the implementation of the scheme.

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