![\"LG](\"https:\/\/static.toiimg.com\/thumb\/msid-131691606,imgsize-16340,width-400,height-225,resizemode-72\/img_taranjit_singh_sandh_2_1_mik7q1g1jpg.jpg\" "\\"Photo")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nNew Delhi:<\/span> Lieutenant governor TS Sandhu Friday directed banks and govt agencies to expedite processing of applications under the Prime Minister Street Vendor\u2019s AtmaNirbhar Nidhi (PM SVANidhi) scheme, stressing that no eligible street vendor should face delays in accessing financial assistance.Reviewing the scheme\u2019s implementation in the capital, which is administered by the Municipal Corporation of Delhi (MCD), LG said the strong repayment record of beneficiaries reflected financial discipline and should encourage banks to extend credit without hesitation.Officials informed him that a total of 4.3 lakh loan applications have been received under the scheme so far. Of these, 2.7 lakh loans have been sanctioned by banks, while 1.9 lakh street vendors \u2014 including rehriwalas, thelewalas and hawkers \u2014 have benefited through disbursals across Delhi.Under PM SVANidhi, street vendors are provided collateral-free working capital loans in three tranches of Rs 10,000, Rs 20,000 and Rs 50,000 to help them start, sustain and expand their businesses. So far, loans worth Rs 367.1 crore have been sanctioned and disbursed directly into beneficiaries\u2019 bank accounts via Direct Benefit Transfer (DBT).LG was also informed that 1.4 lakh loans have been fully repaid. Citing this performance, he asked banks to ensure timely sanctions and disbursals and to remove unnecessary hurdles in extending credit to eligible vendors.Data presented during the review showed that in the first loan category, banks received 2.9 lakh eligible applications, sanctioning 1.9 lakh loans and disbursing 1.9 lakh. In the second tranche, 1.1 lakh vendors applied for higher credit, resulting in 57,567 sanctions and 52,282 disbursals. In the third category of Rs 50,000, officials processed 21,719 applications, leading to 13,378 sanctions and 11,921 disbursals.The review also highlighted growing digital adoption among street vendors, with over 1.5 lakh vendors now digitally active. Cashback incentives totalling Rs 12 crore have been disbursed to encourage digital transactions, while interest subsidies worth Rs 9.5 crore have been provided.However, the meeting also noted that 1.4 lakh applications were returned by banks. LG directed departments concerned to identify reasons for rejections and assist vendors in rectifying deficiencies so they can reapply and avail the scheme\u2019s benefits.Launched in June 2020 during the Covid-19 pandemic, PM SVANidhi aims to provide affordable working capital to street vendors. \u201cPM SVANidhi is not merely a credit support programme; it is a powerful instrument of economic inclusion,\u201d LG said.<\/div>\n