NE BUSINESS BUREAU
CHENNAI, NOV 19
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday said women entrepreneurs are accorded first priority under the Centre’s flagship Pradhan Mantri Mudra Yojana scheme which offers financial assistance to beneficiaries.
Distributing sanction letters to beneficiaries under the PM SVANidhi Se Samriddhi programme which offers loans to street vendors, in Rameswaram, she said officials of the municipalities should identify the uncovered street vendors and help them avail benefits of this scheme.
Smt @nsitharaman hands over sanction letters to #PMSVANidhi beneficiaries along with Sound Box/QR Codes to facilitate digital transactions during the #PMSVANidhi Outreach Programme in Virudhunagar, Tamil Nadu.
In Tamil Nadu, under #PMSVANidhi, a total of 4.50 lakh street vendors… pic.twitter.com/cnqfEpTfE6
— Nirmala Sitharaman Office (@nsitharamanoffc) November 19, 2023
Recalling the launch of Jan Dhan-Aadhaar-Mobile Trinity, Sitharaman said through the JAM Trinity, AADHAR card was provided to a beneficiary after which he or she can open a bank account and directly the financial aid from the Centre has been transferred to the accounts of a beneficiary thereby avoiding ’middlemen’.
Union Finance Minister Nirmala Sitaraman disbursed bank loans to 6,679 beneficiaries in Rameswaram and Virudhunagar on Sunday. In a significant move towards empowering street vendors, PM SVANidhi outreach programs held at Amrita Vidyalayam School, Rameswaram, and Government Medical College, Virudhunagar.
A delegation of fishermen today expressed gratitude to Smt @nsitharaman after the release of 22 traditional fishermen who were rescued following the intervention of the Hon'ble Finance Minister.
The traditional fisherman delegation had met Smt @nsitharaman on Saturday night,… https://t.co/rMpyT6wHeh pic.twitter.com/F0a0CF2mQl
— Nirmala Sitharaman Office (@nsitharamanoffc) November 19, 2023
Sitharaman said the reason to launch it in Rameswaram was because Ramanthapuram district along with Virudhunagar in Tamil Nadu have been identified as ‘aspirational districts’ so that they attain a developmental status.
The event was organized by the State Level Bankers Committee Convenor for Tamil Nadu State, Indian Overseas Bank, and Lead Bank for Ramanathapuram & Virudhunagar District. It aims to showcase the commitment of various banks towards the success of the PM SVANidhi initiative.
Union Finance Minister Nirmala Sitharaman graced the occasion, commencing at 10:00 am in Rameswaram and 4:00 pm in Virudhunagar, in the presence of Dr. Vivek Joshi, Secretary, Dr. Prashanth Kumar Goel, Joint Secretary, DFS, Ajay Kumar Srivastava, Chairman of SLBC & MD & CEO of Indian Overseas Bank, Sanjay Vinayak Mudaliar, Executive Director, Indian Overseas Bank, Mohan M, SLBC Convenor & General Manager of Indian Overseas Bank, and representatives from various banks, government officials, beneficiaries, and other officials who attended the programme, turning this event into collaborative efforts for the betterment of the community.
Over ₹95,000 crore had been disbursed to more than 50 lakh street vendors under the Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme as of 13 November, financial services secretary Vivek Joshi said on Sunday.
While 72.44 lakh PM SVANidhi loans have been sanctioned so far, public sector banks (PSBs) need to step up the pace of disbursement to include more beneficiaries under the scheme, Joshi said while speaking at a PM SVANidhi outreach programme in Tamil Nadu.
Under this scheme, credit worth up to ₹10,000 is provided for 12 months under the first tranche, up to ₹20,000 for the next 18 months under the second tranche, and up to ₹50,000 for the next 36 months under the third tranche.
The vendors, availing loans under the scheme, are also eligible to get an interest subsidy at 7%, which is credited to borrowers’ accounts quarterly.
“Bank-wise targets have been allocated to public sector banks under the scheme,” he added.
