Sri Vijaya Puram, November 13: Street vendors in Sri Vijaya Puram were urged to use collateral-free working capital loans and other benefits under the PM SVANidhi scheme to support their businesses, as the Sri Vijaya Puram Municipal Council (SVPMC) held an awareness programme in Bhatubasti on November 12.
The PM SVANidhi Mahotsav, organised at the Councillor’s Office in Ward No. 19, focused on informing vendors about the scheme’s financial assistance, application process and conditions for accessing credit.
During the programme, SVPMC Community Organiser explained the scheme’s provisions, including the availability of collateral-free working capital loans and the steps vendors must follow to apply. The session also highlighted the importance of repaying loans on time and adopting digital transactions.
V. Vetrivel, Senior Vice-Chairperson of SVPMC, asked vendors to remain informed about welfare schemes introduced by the government and the Ministry concerned. He urged them to make use of the available initiatives to improve their livelihoods and strengthen their businesses.
The interaction also provided an opportunity for beneficiaries to share their experiences. Some vendors said the micro-credit assistance they received under PM SVANidhi during the COVID-19 pandemic helped them restart businesses that had been severely affected by the lockdown.
Their accounts highlighted the role of access to small working capital loans in helping street vendors resume commercial activity after the disruption.
As part of the event, SVPMC felicitated the three best-performing beneficiaries of the scheme in recognition of their performance and contribution towards its objectives.
The programme concluded with an appeal to street vendors to enrol in the scheme and use the financial assistance and other benefits available to them.
