Govt to give loans to street vendors

Hyderabad: Under a central and state government program, Rs. 56 crore loans are being disbursed to street vendors within the jurisdiction of Greater Hyderabad Municipal Corporation.

The Urban Community Department had issued identity cards to street vendors to enable them to obtain loans. These vendors will be given a loan of Rs 10,000 which they have to repay in 12 installments with 7% interest.

According to GHMC officials, about 81,415 street vendors have applied for loans. A total of Rs 56 crore was disbursed among 51,779 vendors. The rest of the applications were rejected due to various reasons. 

In the first phase, under the PM street vendor Atma Nirbhar Fund scheme 70,159 vendors applied who were given Rs.53.11 crore as loans. Each street vendor received Rs. 10,000, and those who will pay installments to banks on time will receive a further loan up to Rs 20,000.  The beneficiaries of these loans are fruit and vegetable sellers, tea stall owners, and other small traders.