Autonomous District Council Churachandpur Organise Lok Kalyan Mela awareness campaign at Nute Bazar

As part of the ongoing Seva Sankalp Abhiyan, the Autonomous District Council, Churachandpur (ADCC) organised “Lok Kalyan Mela”, at Nute Bazar, Hill Town, Churachandpur on Monday.

Lok Kayan Mela, an awareness campaign under PM SVANidhi Scheme for street vendors, vegetable vendors and fruit sellers was organised under the supervision of   Shokhongam Baite, CEO, ADCC.

During the awareness programme Assistant Manager IDBI Bank S Thanglallun Ngaihte, and HDFC Bank Officer, N Pauzalam gave awareness to the street vendors under PM SVANidhi Scheme.

They informed that PM SVANidhi stands for Prime Minister Street Vendor's AtmaNirbhar Nidhi and it is a government of India scheme for eligible street vendors and provides a collateral-free working-capital loan.

On loan stages, they informed that first loan is upto Rs. 15,000; second loan is upto Rs. 25,000 after successful repayment of earlier loan and subject to eligibility; third loan is upto Rs. 50,000 subject to eligibility.

Clarifying that the PM SVANidhi is a loan and not free money,they informed that the vendors that they have to   repay the loan with applicable interest. They urged the vendors to  repay it properly and on time, and so that they can become eligible for the next higher loan.

On interest subsidy, officials from the bank explained that the bank charges applicable interest on the loan; eligible beneficiaries can receive 7% interest subsidy under PM SVANidhi; 7% does not mean the bank charges only 7% interest; it does not mean 7% of Rs. 15,000 is automatically returned; the subsidy is calculated according to the scheme on the eligible outstanding loan and repayment conditions; it is generally credited to the beneficiary's bank account.

Regarding documents required, they informed that Aadhaar Card; Mobile Number; Bank Account/Passbook details; Vendor ID / Certificate of Vending, if available; Letter of Recommendation (LoR), where applicable; and Photograph, if required are needed to apply.

T. Paominlien Haokip, AI, ADCC stated that Vendor License is mandatory to avail loan and that  ADCC will assist vendors in obtaining the same. He said that vendors operating without license are liable to be booked as per law.

Paominlein  also informed that vendors can obtain license from ADCC Town Office on payment of Rs. 500/- by submitting Xerox copy of Aadhaar Card; Domicile/Residential Certificate issued by local Village Authority; and passport size photograph. He urged all vendors to obtain license and maintain cleanliness in and around their vending areas.