Bhopal: 87% Street Vendors Paying Back Money After Taking Loans
MP gets second position in giving loans under PM Swanidhi Yojna
Street vendor pushing his cart | Representative Picture
Bhopal (Madhya Pradesh): Union Minister of State for Finance Bhagwat Karad has said that 87% of street vendors taking loan under PM Swanidhi Yojna are returning it.
There is only 13% of NPA under the scheme, Karad said at a press conference in Bhopal on Tuesday.
MP has been given a target for giving loan of Rs 11.10 lakh crore, he said, adding that the state has got second position by giving loan of Rs 8.33 lakh crore.
The state has been on the first position for three years, but it has got the second position this time, he said.
Uttar Pradesh has got the top position in the scheme, whereas the states like Rajasthan and Keral are in the lower position.
In the first phase of the scheme, six lakh street vendors in rural areas were given a loan of Rs 600 crore.
In the second phase, two lakh street vendors were given Rs 400 crore and, in the third phase, Rs 27,000 street vendors were given Rs 13 crore.
According to Karad, the banks cannot reject loan applications being to provide loans under the scheme.
The Union Government is giving 7% subsidy on interest to the banks under the scheme, he said.
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