Kiphire, June 18 (MExN): As part of the ongoing PM SVANidhi Special Campaign in Kiphire, officials of Akehda Amulung, in collaboration with the District Administration, along with Bachelor of Business Administration (BBA) internship students from St. Joseph University, Chümoukedima, visited the State Bank of India (SBI) Branch in Kiphire for an interaction with the branch manager.
According to a press release, discussions focused on the implementation of the PM SVANidhi Scheme and the importance of financial inclusion for street vendors. The students were provided an overview of banking services, loan facilities and government welfare schemes available to small vendors and entrepreneurs.
During the interaction, Akehda Amulung officials informed that the internship students are currently conducting a baseline survey of street vendors in Kiphire Town to identify eligible beneficiaries, understand their socio-economic conditions and assess their access to government welfare schemes.
The release stated that the PM SVANidhi (Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi) Scheme has been extended until March 2030 with a target of benefiting 1.15 crore street vendors nationwide. Under the scheme, eligible vendors can avail collateral-free working capital loans of ₹10,000, ₹20,000 and ₹50,000 in stages. Beneficiaries are also entitled to a 7% interest subsidy on timely loan repayment and cashback incentives for digital transactions.
As part of the special campaign, efforts are being made to facilitate loan applications, create awareness about the scheme, promote digital financial literacy and connect street vendors with various Central government welfare schemes.
The SBI Branch Manager appreciated the initiative undertaken by Akehda Amulung and encouraged the students to continue their fieldwork with dedication. He also highlighted the importance of banking services and financial literacy in improving the livelihoods of street vendors and small business owners.
Akehda Amulung stated that it will continue supporting the PM SVANidhi Special Campaign in collaboration with the District Administration to ensure eligible street vendors are informed, empowered and connected to the benefits available under the scheme. The organisation also urged eligible street vendors requiring assistance with PM SVANidhi applications to approach Akehda Amulung, Kiphire, for guidance and support.
