Medziphema Town Council organises a PM SVANidhi special campaign to assist local street vendors with credit access.
DIMAPUR — Medziphema Town Council organised a PM SVANidhi special campaign at City Centre, Medziphema, on Thursday, with the objective of creating awareness among street vendors and facilitating their access to formal credit and benefits under the scheme.
An overview and introduction of the PM SVANidhi scheme was delivered by Additional Deputy Commissioner (ADC) and Executive Officer of Medziphema Town Council, P James Swu. According to a DIPR report, he highlighted the objectives and benefits of the scheme and encouraged eligible street vendors to avail themselves of the opportunities provided under it.
He explained the main features and eligibility criteria, stating that the scheme is meant for street vendors, including individuals engaged in selling goods or providing services such as fruits and vegetables, food and snacks, tea and beverages, small roadside shops or carts, and other goods or services sold through street vending. Swu also explained the importance of financial inclusion, timely repayment, and strengthening the livelihoods of street vendors.
The procedure for applying under the PM SVANidhi scheme was presented by LDA-cum-Computer Assistant Kailengwi Newmai, who outlined the necessary requirements and assistance available for eligible vendors.
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Branch Manager of SBI Medziphema, Lunkhomang, spoke on how banks provide credit under PM SVANidhi, the importance of maintaining bank accounts, and proper financial records. He explained the purpose behind the introduction of PM SVANidhi, noting how it supports street vendors and small business operators with working capital.
Highlighting the role of banks in extending credit support, he stressed the importance of responsible borrowing, timely repayment, maintaining regular banking transactions, and making effective use of credit facilities.
Relationship Manager of SBI RBO Dimapur, P Hangsing, also covered topics concerning interest subsidies and UPI credit cards.
The programme included shared experiences from selected PM SVANidhi beneficiaries, who recounted how financial assistance had helped them sustain or expand their small businesses. They encouraged other vendors to make use of the scheme.
Around 40 vendors attended the programme.