A PM SVANidhi awareness programme in Kiphire highlighted gaps in scheme awareness and access to formal credit, digital payments and financial services among street vendors.
Longtili
KIPHIRE — A special awareness programme on the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme was held at the Kiphire Town Council office on Friday, with emphasis on improving street vendors’ access to formal credit, digital payments and financial services.
The programme highlighted findings from a recent livelihood baseline survey in Kiphire, which covered 39 street vendors.
The survey found that only 11 vendors were aware of PM SVANidhi or any vendor-related government scheme, while 18 identified loan support as their most important need.
Although 37 of the 39 vendors surveyed had bank accounts, the findings pointed to gaps in awareness and utilisation of credit facilities and other financial services.
Longtili C Sangtam, Founder of Akheda Amulung, gave an overview of PM SVANidhi and explained how the scheme can support street vendors through access to credit and other assistance. He also shared the findings of the livelihood baseline survey.
In his welcome address, Longdiba L Sangtam, Additional Deputy Commissioner, Kiphire, encouraged street vendors to take advantage of the scheme and make greater use of digital payment methods while improving their financial literacy.
Tsarise, SBI Customer Service Point (CSP), Kiphire, explained the procedure for applying for PM SVANidhi, including the registration process and documents required.
Rajarshi Bhattacharjee, Branch Manager, SBI Kiphire, spoke on the role of lending institutions in supporting street vendors.
He said loans for vendors in Kiphire had recently been sanctioned and noted that the beneficiaries were women who had been repaying their EMIs on time.
Bhattacharjee assured eligible vendors of support in accessing the scheme and said he would extend assistance from the bank’s side.
Two PM SVANidhi beneficiaries also shared their experiences, stating that the scheme had been helpful and that timely repayment had enabled them to receive cashback and other government benefits.
They encouraged fellow vendors to adopt digital payment methods and maintain timely repayment of loans.
The programme concluded with an emphasis on increasing awareness of PM SVANidhi, promoting digital payments and financial literacy, and helping more street vendors access formal credit and government support.