PM SVANidhi Yojana: Assam tops among Northeast states

 STAFF REPORTER

GUWAHATI: Union Minister of State for Finance Dr. Bhagwat Karad said that Assam has topped the list among the north-eastern states by achieving the 89 percent target under PM SVANidhi, and Uttar Pradesh topped the list at the national level.

Presiding over the North-East Zonal Conference of PM SVA Nidhi here today, Dr. Bhagwat Karad said, "The PM SVA Nidhi scheme will play a big role in upgrading 13.5 crore Indians from below the poverty line to the lower middle class or middle class. Among the Northeastern States, Assam takes the top position after achieving 89 percent of its targets under PM SVANidhi. Uttar Pradesh holds the first position at the national level".

Reviewing the progress of the PM SVANidhi scheme in the eight northeastern states, Karad appealed to the banks to accelerate coverage of SVANidhi loans to the poor. "Banks should fund the unfunded on priority," he stressed. The minister further advised organising camps at village levels to provide various banking services.

Dr. Karad said that region-wise meetings are being held to give the benefits of the central scheme to the hawkers in the municipal areas and to increase awareness about the scheme. "Vendors who have a bank account, an Aadhaar number, and are registered with the municipal corporations can get the benefit of the scheme. Initially, a Rs. 10,000 loan is disbursed, and those making timely payments can get an additional loan for Rs. 20,000 and then Rs. 50,000," the Minister said, appealing to the states that the target decided in the meeting should be achieved within a month and that the benefits of the PMSVANidhi Yojana should be given to the poor.

The minister added that efforts for the economic uplift of the poor are being made at three levels. Firstly, opening bank accounts for those who do not have bank accounts; secondly, providing benefits of the insurance scheme to the public; and thirdly, making finance available to those who are deprived of financial assistance Karad said that the PM SVANidhi scheme envisages the empowerment of street vendors through hassle-free access to affordable credit and their digital onboarding for their economic development.

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