ASULMS conducts credit camp for street vendors in Silchar, vendors to get initially ₹10,000

Dec. 19: As per the directives of the Chief Minister of Assam, a special credit camp under Pradhan Mantri Street Vendor Atmanirbhar NIDHI was organised by the Assam State Urban Livelihoods Mission Society (DAY-NULM) under the aegis of Cachar District Administration at Silchar Municipal Board (SMB) campus here in silchar on Saturday.

The program was attended by MLA Silchar, Dipayan Chakraborty, Deputy Commissioner, Cachar, Keerthi Jalli, Executive officer, Silchar Municipal Board, Jessica Lalsim, Regional Manager SBI and officials from different Banks. The meeting was also attended by huge number of street vendors for getting enrolled under this scheme.

Executive Officer of SMB, Jessica Lalsim delivered the welcome address. It was then that the City Project Manager elaborated the objective of the camp in light of the importance of street vending in livelihood generation. The City Project Manager highlighted the vision of Prime Minister Narendra Modi to recognise the profession of the vendors and link them with banking system. He also highlighted that the vendors will be provided certificate and identity card for ease of work.

Speaking on the occasion, Deputy Commissioner Keerthi Jalli said, “Ministry of Housing and Urban affairs launched the scheme ‘PM street vendors Atmanirbhar Nidhi’ to empower street vendors by not only extending loans to them, but also for their holistic development and economic upliftment. This scheme was launched to provide micro -credit facility to vendors reeling under the impact of Covid -19 lock down.”

Elaborating on the scheme DC Jalli said, “This scheme intends to facilitate collateral free working capital loans of up to 10,000 of one year tenure with a subsidised interest rate @7 % per annum to the street vendors and this will help to resume their business.” Citing the example of country’s top most businessman Mukesh Ambani, DC Jalli Said, “Dream big to achieve big, you have to make payment duly and on time and digital payment will be incentivised through monetary rewards. Enhanced working capital credit will be made available for good repayment behaviour.”

DC Jalli also highlighted the importance of mutual coordination between Departments, banks and vendors to bring the vendors in better socio-economic condition. She also emphasized on the importance of regular repayment which will increase the lending limit to Rs. 20,000 and Rs. 50,000.

MLA Silchar, Dipayan Chakraborty highlighted that the vision and commitment of Prime Minister Narendra Modi and Chief Minister Dr Himanta Biswa Sarma towards making an Atmanirvhar Bharat and Assam. He assured the vendors that he will extend all cooperation towards developing a better vending plan in Silchar. He also expressed his gratitude towards the Chief Minister of Assam his team and the whole state machinery for working an extra mile towards a better future of the state.

It’s worth mentioning that for the first instance, vendors will get Rs.10,000 @ 7% per year with one year repayment period and after returning the amount, the vendor will be eligible for loan for Rs. 20,000. After recovering Rs. 20,000, they will be eligible for loan of Rs. 50,000. Generation of UPI is mandatory for the bank. The vendors will get cashback on digital transaction through this UPI.