Port Blair, Sept. 27: In the line of Aatma Nirbhar Bharat Campaign and implementation of PM SVANidhi scheme, the Port Blair Municipal Council distributed Certificate of Vending (CoVs) to 181 Street vendors at a function organized at Dr. B.R. Ambedkar Auditorium, Port Blair. The Council also conducted financial literacy training for the vendors. Shri. Abhisekh Dev, IAS Secretary (UD) was the Chief Guest for the occasion while Smti. Anjali Sehrawat, IAS, Secretary (PBMC), Shri. Satya Priyadarshi, Regional Manager, State Bank of India and Shri. Farooq, District Lead Bank Manager, SBI were also present at the function.
Certificate of Vending (CoV) acknowledges the right of the street vendors and are aimed to prevent any kind of harassment in view of threats to eviction etc. and the financial literacy training will boost the digital transaction in the platform of street vendors.
CoV enables the Street Vendors to access micro credit scheme namely PM SVANidhi under which a working capital up to Rs 10,000/-(ten Thousand) is provided with the interest subvention of 7% for a year. The scheme was launched in June 2020 and is aimed at formalization of the economic sector occupied by the street vendors. 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. The PM SAVNidhi micro credit scheme enables liquidity in the hands of the street vendors who can either augment their economic activities or restart their business after the adverse economic effect of COVID-19 situation. Over 95% of the identified street vendors in Port Blair have been issued Certificate of Vending (CoVs) so far. Almost 100% saturation with respect to sanction of loan under PMSAVNidhi achieved so far.
Port Blair is leading in the implementation of this flagship schemes and committed to deliver the benefits of this scheme to all eligible beneficiaries. The financial literacy training organized for the street vendors by PBMC in association with SBI on 26-09-2020 shall boost information about the benefit of the schemes especially with respect to incentives on digital transactions.