417 Itanagar street vendors qualify

A CORRESPONDENT

ITANAGAR: The Itanagar Municipal Corporation (IMC) in collaboration with the State Bank of India (SBI), Itanagar organized a training programme for the socio-economic profiling and digital payment among street vendors under the 'Pradhan Mantri Street Vendors AatmanirbharNidhi' (PMSVAN) at the SBI regional office here on January 11.

Speaking to the reporters, SBI Lead district manager Ranjit Singh informed that the IMC has been entrusted to work on the execution part of PMSVAN.

Referring to various other Central government schemes, Singh said that the present move is specifically meant for those street vendors who were affected by the Coronavirus lockdown across the country.

"As the processes of document submission and its approval is online for the scheme, the bank will be able to pay the loan to the vendors promptly," he said, adding, "The loan amount is around Rs 10,000.

Singh also informed that the whole idea of the programme was to make the family profile of the street vendors and accordingly extend all possible help to them through the scheme.

Meanwhile, IMC community organizer TenzingChoten said that the bank will cut off the interest rate in the total amount of loan provided to the street vendors under urban settlement plan of the State. She also informed that under the jurisdiction of IMC, the Corporation has managed to fill up 647 online applications for the loan. Of them, 417 have been approved for the loan, she added.

"Today with help from SBI personnel, we trained the selected 417 street vendors in socio-economic profiling and digital payment," she said, informing that the 'socio economic profiling' incorporates the detailed information of the family members of the street vendors.

She added that once the loan amount is returned to the bank, the applicant will be able to get more loans according to the scheme. The bank will generate QR codes to the street vendors for easy accessibility, she added.

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