Loan mela camp excites Street vendors in Coimbatore
The ongoing special loan mela camp has benefitted 2,502 street vendors in the city. Conducted by the city corporation under the PM Street Vendor’s AtmaNirbhar Nidhi scheme, the loan mela that commenced on August 7 would continue till this month end on the corporation main building premises.
A corporation official said the objective of the loan mela was to prevent the street vendors from falling prey to usurers, while protecting their livelihood. “The street vendors could use the loan, which is provided at a lower interest rate, to run their trade. They could repay the amount in small instalments.” According to him, 1,491 of the 2,502 street vendors were sanctioned a loan of 10,000 at the mela. “They will be eligible to obtain another loan of 20,000 upon the successful repayment of the current loan”. They will be offered a loan of 50,000 after the successful repayment of the second loan.”
At the camp, he said, second-term loan was sanctioned to 797 street vendors and third-term loan to another 214. He said more than 16,000 street vendors had been benefited from the scheme since its inception. As per the earlier data available with the civic body, the city had 24,000 street vendors. ‘We are carrying out a fresh enumeration drive and have listed 9,000 vendors so far,” the officer said.
He said they were planning to conduct a mega loan camp on September 7, when bank officials would also be present. “Banks have returned around 6,000 applications so far. They will be reconsidered and provided loans at the mega camp.” Corporation commissioner M Prathap said the Union government was keenly focussing on the scheme. “As per the guidelines, once an application is made by a street vendor, it should be considered as deemed approved, unless and otherwise they are found to be ineligible.”
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