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Mcc And Banks Launch Campaign To Promote Pm Svanidhi Scheme | Mangaluru News – Times of India

Mangaluru: The Mangaluru City Corporation (MCC) has launched ‘SVANidhi se Samriddhi’, a monthlong campaign to promote PM SVANidhi scheme, a micro-credit facility that provides street vendors with a collateral-free loan of Rs 10,000.
Campaigns have commenced in association with various banks at the MCC office and its zonal offices at Surathkal and Kadri on September 16 and it will continue till October 15, said MCC commissioner Anand CL. He requested street vendors, who have not enrolled for PM SVANidhi scheme yet, to make use of the campaign to avail the scheme’s benefit.
“Under the PM SVANidhi scheme, loans up to Rs 10,000 are distributed among street vendors in the first phase. Once the loan is repaid, they are eligible to receive Rs 20,000 for the second phase of loan. In the third phase, the beneficiaries may avail a loan of Rs 50,000. Those who carry out digital transactions are eligible to receive a cashback of Rs 1,200. Interested street vendors may visit the MCC or the zonal offices of the city corporation to register their names for the scheme,” the MCC commissioner said.
The benefits of scheme have also has been extended to vendors who sell milk, newspapers, flowers, tender coconut, old vessels, laundrymen, carpenters, cobblers, basket makers, weavers and caterers. The campaign will help beneficiaries register their names online and apply for loans. Various other initiatives including social and economic surveys of the families of street vendors, loan mela at bank branches, Main Bhi Digital drive, health camp and food camps will also be held as part of the SVANidhi se Samriddhi campaign, he said.
Recently, deputy commissioner Mullai Muhilan MP had expressed displeasure over the poor performance of banks in achieving targets in the implementation of the PM SVANidhi scheme in Dakshina Kannada.
The DC had directed banks not to reject applications without any valid reasons. Banks were also asked to appoint nodal officers for the implementation of PM SVANidhi scheme.
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