PM SVANidhi: Centre launches ‘Letter of Recommendation’ module for road distributors

New Delhi, August 7

Street distributors, who don’t have identification playing cards or certificates of merchandising, will now be capable of avail advantages underneath the PM SVANidhi scheme because the Centre on Friday launched the ‘Letter of Recommendation’ module by which they will get loans of as much as Rs 10,000.

According to a press release, Union Housing and Urban Affairs (HUA) Secretary Durga Shanker Mishra launched the power and stated an eligible vendor might request for a Letter of Recommendation (LoR) with the city native physique.

Under the Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) scheme, distributors can avail a working capital mortgage of as much as Rs 10,000 which is repayable in month-to-month instalments within the tenure of 1 yr.

Mishra stated after getting the LoR, a vendor might apply for a mortgage underneath the scheme.

According to the Ministry, the LoR module is designed to present entry to the road distributors, who would not have identification playing cards and certificates of merchandising and will not be within the surveyed record for availing advantages underneath the scheme.

The PM SVANidhi was launched by the HUA Ministry on June 1 for offering inexpensive working capital mortgage to road distributors to renew their livelihoods which have been adversely affected as a result of pandemic-induced lockdown.

According to the assertion, to use for the LoR from the city native physique by a web based module on the PM SVANidhi portal, a vendor must possess any one among these paperwork — proof of availing one-time help offered by sure states through the interval of lockdown, membership particulars with the distributors’ associations, or some other paperwork to show that he’s a vendor.

“Also, a vendor can also request ULB (urban local body) through a simple application on white paper to conduct a local enquiry to ascertain the genuineness of the claim as a vendor. ULBs will have to dispose of the request for issue of LoR within a period of 15 days,” HUA stated within the assertion.

It acknowledged that the distributors possessing the LoR shall be issued a certificates of merchandising or identification card inside a interval of 30 days, including that this provision would assist in extending the attain of the scheme to the utmost variety of beneficiaries.

It additionally acknowledged that for the reason that graduation of on-line submission of mortgage purposes on the PM SVANidhi portal on July 2, greater than 4.45 lakh purposes had been obtained and over 82,000 had been sanctioned in numerous states and Union Territories.

This scheme targets to learn over 50 lakh road distributors who had been merchandising on or earlier than March 24 this yr in city areas, together with these from surrounding peri-urban/ rural areas. PTI

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