LG Pushes Faster PM SVANidhi Loan Approvals
CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Delhi Lieutenant Governor Vinai Kumar Saxena has directed banks and financial institutions to expedite the processing and disbursement of loans under the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme. The directive comes as Delhi has received more than 4.3 lakh applications from street vendors seeking financial assistance under the flagship central government initiative.
The PM SVANidhi scheme was launched to provide affordable working capital loans to street vendors, helping them revive and expand their businesses. The program has played a crucial role in supporting small vendors, hawkers, and self-employed individuals by providing collateral-free loans, digital payment incentives, and opportunities for enhanced credit access.
During a review meeting, the Lieutenant Governor emphasized the need for timely loan approvals to ensure that eligible beneficiaries receive financial support without unnecessary delays. He urged banks to simplify procedures, improve coordination with implementing agencies, and resolve pending applications at the earliest. Officials were also instructed to enhance awareness about the scheme and facilitate smoother access for applicants.
According to government data, the large number of applications reflects the scheme’s growing popularity among street vendors and small entrepreneurs. Faster loan disbursement is expected to strengthen livelihoods, promote financial inclusion, and contribute to local economic activity.
Authorities believe that efficient implementation of PM SVANidhi will empower thousands of vendors across Delhi, enabling them to sustain their businesses, increase incomes, and become active participants in the city’s economic growth and development.
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