Medziphema Town Council organised a PM Svanidhi Special Campaign at City Centre, Medziphema on September 17, with the objectives of creating awareness among street vendors and facilitating their access to formal credit and benefits under the schemes.
An overview and introduction of the PM Svanidhi Scheme was delivered by ADC & EO, MTC, P James Swu. He highlighted the objectives and benefits of the schemes and encouraged eligible street vendors to avail the opportunities provided under it.
He also explained the main features and who can avail, like the scheme meant for street vendors including people engaged selling goods or providing services such as fruits and vegetables, food and snacks, tea and beverages, small roadside/shops/carts and other goods or services sold through street vending.
He also explained the importance of financial inclusion, timely repayment and strengthening the lives of street vendors.
Procedure for applying under the PM Svanidhi Scheme was conducted by LDA cum Computer Assistant, Kailengwi Newmai. He explained the necessary requirements and assistance available for eligible vendors.
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Branch Manager SBI, Medziphema, Lunkhomang spoke on how banks provide credit under PM Svanidhi, the importance of maintaining bank accounts and proper financial records. He also explained what PM Svanidhi is and why the scheme was introduced, how it supports street vendors and small vendors with working capital. He also highlighted the role of banks in extending credit support to street vendors and stressed the importance of responsible borrowing, timely repayment, maintaining proper banking transactions, and making effective use of credit facilities.
Relationship Manager SBI RBO Dimapur, P Hangsing, covered topics like interest subsidies and UPI credit cards.
The programme includes success stories and experiences of selected PM Svanidhi beneficiaries. The beneficiaries shared their experiences of availing the scheme and how financial assistance had helped them sustain or expand their small businesses. They encouraged the vendors to make use of the scheme.
The Campaign witnessed active participation from the local community, with around 40 vendors attending the programme.
