New Delhi: Those who operate street-trails, carts or roadside shops will be able to take advantage of the Pradhan Mantri Swanidhi Yojana. This loan will also be available to those who do not have any identity card and sales certificate. The Central Government has introduced a Letter of Recommendation (LOR) arrangement for this on Friday. Under this scheme, pledges can be availed for loans up to Rs 10,000.
According to the official statement, Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs, while introducing the facility said that an eligible street-dwelling local urban body can apply for the letter of recommendation. Pradhan Mantri Swanidhi Yojana has been started for those who livelihood by setting up shop on road side carts. Under this, the pledges, street vendors can take up to Rs 10,000 working capital loan. This loan will have to be repaid in one year in monthly installments. Mishra said that shopkeepers can apply for loans after acquiring LOR under the scheme.
According to the ministry, the letter of recommendation is a module designed to facilitate the shopkeepers who do not have an identity card (ID) and sales certificate. Along with this, his name is also not present in the survey list for availing benefits under this scheme. The objective of this scheme is to provide working capital loans at affordable rates to the resellers, hawkers who were adversely affected due to corona lockdown.
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