Street Vendors In Capital City To Get low Interest loan

Bhubaneswar : The Covid-19 pandemic and lockdown and shutdown have hit livelihoods of street vendors in capital city. They have been facing financial crisis due to lockdown and less footfall of customers.

BMC on Monday discussed with 25 banks and other govt. officials to help street vendors to come out of their financial crisis.

The center has come up with PM street vendors Aatmanirbhar Nidhi to help the street vendors in the country. Now the state govt is also implementing this scheme. BMC is implementing this scheme in Bhubaneswar and it’s nearby areas.

According to the micro credit scheme, a vendor will get 10,000 each, with 7 percent interest from any commercial bank, microfinance, Co-operative bank. These lending institutions will not take any Collateral to pass the loan.

The loan will be given on working capital for a term of 1year. If the vendor pays the monthly installment rightly then they can get cash back or incentives.