Port Blair, Dec. 7: The Port Blair Municipal Council is implementing the PM Street Vendor’s Aatma Nirbhar Nidhi (PM SVANidhi) scheme for street vendors in letter and spirit. PM SVANidhi is a collateral free special microcredit facility for street vendors. It helps to formalize the street vendors and open up new opportunities for them to move ahead in their micro-enterprises by using the loan capital of Rs. 10,000 /-.

Due to the concerted effort of the PBMC, the implementation of PMSVANidhi scheme at present Andaman & Nicobar Islands is adjusted at the first place among all UTs & small states category.

PMSVANidhi Scheme facilitates working capital loan up to 10,000 and incentivize regular repayment through interest subsidy and also reward digital transactions by cash backs. PBMC has received 174 valid applications and sanctioned loan to all of them is over Rs. 17 Lakhs.

The Street Vendors who availed loans under this scheme have restarted their ventures after lockdown and have supported their family.

In special camp organized on 5th & 6th of December 2020, PBMC received 316 fresh applications from interested vendors. The verification and administrative scrutiny shall be followed by loan sanctioning at the earliest.

PBMC remains committed to the public good and to implement poor-oriented schemes in letter and spirit.