Prime Minister Shivraj Singh Chouhan will be handing out loans to street vendors in the countryside on February 18 to improve their livelihoods. Chouhan will also interact with the program beneficiaries in a virtual program held at 12 noon in Minto Hall, Bhopal.
For the fourth time, a loan will be simultaneously distributed to the beneficiaries under the Chief Minister Rural Street Vendor Scheme. Panchayat State Minister for Rural Development, Mahendra Singh Sisodia, and Minister of State Ramkhelawan Patel will also be present in the program.
To date, under the Panchayat and Rural Development Department’s Chief Minister Rural Street Vendor Scheme, more than one lakh of rural migrant workers and other needy street vendors have benefited from an interest-free loan of Rs 10,000 each on the guarantee from the government.
The aim of the program is to cooperate in providing bank loans of up to Rs 10,000 to street vendors in rural areas in the form of working capital loans, promoting regular loan repayment and helping small business owners with commercial training. As part of the program, there is a repayment of 14 percent interest subsidy for loans up to 10,000 rupees per beneficiary by the state government. In addition, the state government will provide a loan guarantee as part of the program. The eligible beneficiaries of this scheme are also exempt from stamp duty.
Under the program, the benefits of the program are granted to rural migrant workers, poor families and women from such families in rural areas who are members of self-help groups formed in the Aajeevika mission or the Tejaswini project. There is no limit to the educational qualifications and caste or class in the program.
To make the scheme simple and transparent, the Kamgar Setu portal was created. So far, more than 14.15 lakh beneficiaries have been registered through the Kamgar Setu portal. Of these, credit cases of more than 1.41 lakh beneficiaries have been approved by the banks and more than 1 lakh are ready for distribution.
Of this, the loan amount was distributed by Prime Minister Chouhan to more than 60,000 beneficiaries in the virtual mass lending programs organized on September 24, November 12 and December 21, 2020. In the program, which will take place for the fourth time on February 18, the loan will be paid out to more than 40,000 providers at the same time.