Manipur Govt to provide loans to vendors hit by the COVID-19 pandemic

Guwahati: The government of Manipur will provide loans to around 20,000 vendors whose livelihoods were affected due to the lockdown, said Chief Minister N Biren Singh on Tuesday.

In order to help the people to restart their small businesses, the credit will be extended to them under two central schemes.

The chief minister distributed loans to 817 vendors, as part of the financial assistance program, on Tuesday.

"At least 368 vendors were benefited under the Pradhan Mantri Street Vendor"s Atmanirbhar Nidhi, and 449 licensed vendors were provided financial assistance under the Pradhan Mantri Mudra Yojana," a statement issued by the government said.

N Biren Singh said his government is aware of the fact that the vendors are facing hardships in the last five months as their businesses were hit by the lockdown.

"Loans would be provided to around 20,000 vendors from different parts of the state," Biren announced.

Meanwhile, the state government is consulting with the banks for the smooth disbursement of loans to the crisis-hit vendors.

The Union Ministry of Housing and Urban Affairs funded the Pradhan Mantri Street Vendor"s Atmanirbhar Nidhi with the objectives to facilitate working capital loan up to Rs 10,000 for street vendors and hawkers.

An official said the scheme will incentivize the vendors for regular repayments. He added that it will help formalize the street vendors and open up new opportunities.