The benefit of PMSY should be delivered to the beneficiaries: Dr. Karad

Union Minister of State for Finance Dr. Bhagwat Karad directed that, the Pradhan Mantri Swanidhi Yojana is very useful for street vendors, hawkers.

Chhatrapati Sambhajinagar, Oct 23 : Union Minister of State for Finance Dr. Bhagwat Karad on Monday directed that, the Pradhan Mantri Swanidhi Yojana is very useful for street vendors, hawkers and all relevant systems should focus on delivering the benefits of this scheme to the beneficiaries.

Dr. Karad was speaking in a review meeting regarding Pradhan Mantri Swanidhi Yojana current situation in the district at the Smart City office here on today.

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Dr. Karad said, this scheme is based on the concept of self-sufficiency and prosperity. “Under this scheme, registered sellers are provided with financing of Rs 10,000 at a very low interest rate. The central government’s aim is to provide financial assistance to the small sellers of the country, freeing them from the clutches of private lenders,he said.

Under the Pradhan Mantri Swanidhi Yojana, loans are provided to the needy such as street vendors, vegetable vendors, fruit vendors, roadside vendors. The municipal corporation and banks should cooperate to inform street vendors and hawkers of the scheme and register them, Dr. Karad further said.

Saying that the country is moving forward in digital transactions, Dr. Karad said, sellers are encouraged to do digital transactions by providing cashback facility through Pradhan Mantri Swanidhi Yojana. Transactions done through digital means will also increase the credit score of the sellers. In the Pradhan Mantri Swanidhi Yojana, the current status of the scheme including public awareness, prompt disbursement of loans, involvement of bank officials, assistance to poor families through the scheme, application process to achieve the big target by the first week of December was discussed.

On this occasion Municipal Commissioner G. Srikanth, Sanjay Khambaite, Bapu Ghadamode, Deputy Collector Prabhodaya Mule, District Pioneer Bank Manager Mangesh Kedar among others concern officials were present.