88% of street vendors regularly repaying PM SVANidhi loans

88% street vendors regularly repaying

About 12% of the loans paid to street traders under the PM SVANidhi program are reported as non-performing assets (NPAs).

The micro-credit scheme, unveiled on July 2, 2020, to provide easy loans to street vendors after Covid-19, has disbursed the first installment of Rs 10,000 to street vendors, followed by Rs 20,000 as a second and Rs 50,000. as a third category.

According to government intelligence provided by the Department of Housing and Urban Affairs, the first 30,20,566 loans have been disbursed and 2,99,179 second loans. According to the department, the first loan has a repayment period of one year and is paid by EMIs (simple monthly installments). The loan is disbursed over a period of two years and will have different repayment dates.

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