Port Blair, April 16: In the line of Atma Nirbhar Bharat Campaign and implementation of PM SAVNidhi scheme, the PBMC distributed 211 Certificates of vending (CoV) to validated Street Vendors at a function organized at the Conference hall of PBMC. Shri. Kishore Kshirsagar Lakshman, IAS Secretary (PBMC) graced the occasion and enlightened the vendors about the benefits of PM SVANidhi.

Certificate of vending acknowledges the right 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 SVANidhi 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 cash back 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 560 street vendors have been issued CoV by PBMC and 395 Loans have been sanctioned till date. Efforts are on 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 street vendors of Port Blair.