Port Blair, Sept. 9: In the line of Atma Nirbhar Bharat campaign and implementation of PM SAVNidhi scheme, Certificates of Vending (CoV) were distributed to 44 Nos. Street Vendors of Port Blair City today by the Port Blair Municipal Council at a function organized at Dr. B.R. Ambedkar Auditorium, Port Blair. The Chairperson, PBMC Shri.N.K.Udhya Kumar graced the occasion alongwith Shri. Abhisekh Dev, IAS Secretary (UD), Smti. Anjali Sherawat, IAS, Secretary PBMC and Shri. Farooq, District Lead Bank Manager, SBI.
Certificate of Vending acknowledges the rights of the street vendors and are aimed to prevent any kind of harassment in view of threats to eviction etc.
CoV enables the street vendors to access micro credit scheme namely PM SAVNidhi under the scheme working capital up to Rs. 10,000 /- (Ten Thousand) for one year period is provided with the interest subvention of 7%. The scheme launched in June 2020 is aimed at helping formalization of street vendors and to open new opportunity for them to move up the economic ladder. The regular repayment is incentivized through interest subsidy under the scheme. Further digital transactions are incentivized through cashback up to Rs. 100 every month.
The scheme is open for street vendors vending on or before 24th March 2020. No collateral is required for accessing the loan of up to Rs. 10,000 /-. The loan can be repaid in monthly installment of approx. of Rs. 946/ each.
A total of 168 Street Vendors have been issued CoV by PBMC till date and 75 Loans sanctioned till date. Further action is underway to facilitate earliest disbursal of micro- credit loan to all eligible Street Vendors.
City Mission Management Unit (CMMU), Dairy Farm, Reocon Children Park Building of PBMC can be contacted for any further informational query on the scheme. The PBMC envisages roll-out the scheme benefits to all the street vendors of Port Blair