As part of the ongoing PM SVANidhi Special Campaign in Kiphire, being implemented by Akehda Amulung in collaboration with the District Administration, the officials of Akehda Amulung, along with internship students from BBA students of St. Joseph University, Chümoukedima, visited the SBI Branch Manager, Kiphire, for an interaction.
During the meeting, discussions were held on the implementation of the PM SVANidhi Scheme and the importance of financial inclusion for street vendors. The students were given an overview of banking services, loan facilities, and government welfare schemes available to small vendors and entrepreneurs.
Akehda Amulung officials informed that the internship students are currently conducting a baseline survey of street vendors in Kiphire Town. The survey is being carried out to identify eligible vendors, understand their socio-economic conditions, and assess their access to government welfare schemes.
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 across the country. The scheme provides collateral-free working capital loans of Rs 10,000, Rs 20,000 and Rs 50,000 in stages. Beneficiaries are also eligible for a 7% interest subsidy on timely repayment and cashback incentives for digital transactions.
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Under the special campaign, efforts are being made to facilitate loan applications, create awareness about the scheme, promote digital financial literacy, and connect vendors with various central welfare schemes.
The SBI Branch Manager appreciated the initiative taken by Akehda Amulung and encouraged the students to continue their fieldwork with dedication. He emphasized the importance of banking services and financial literacy in improving the livelihoods of street vendors and small business owners.
Akehda Amulung continue to support the PM SVANidhi Special Campaign in Kiphire, in collaboration with the District Administration, and ensuring that eligible street vendors are informed, empowered, and connected to the benefits provided under the scheme.
For assistance regarding PM SVANidhi applications, eligible street vendors may contact Akehda Amulung Kiphire for guidance and support.
