A special awareness programme on the PM SVANidhi Scheme was held at the Kiphire Town Council Office on September 25. The programme was organised to create awareness among street vendors about the benefits of the scheme, access to credit, digital payments and financial services.
The programme was chaired by Adekhing Y Sangtam, LDA-cum-Computer Assistant, Kiphire Town Council.
In his welcome address, Longdiba L Sangtam, Additional Deputy Commissioner, Kiphire, encouraged street vendors to take advantage of the PM SVANidhi scheme. He also encouraged vendors to make greater use of digital payments and improve their financial knowledge.
Giving an overview of the scheme, Longtili C Sangtam, Founder of Akheda Amulung, explained how PM SVANidhi can support street vendors through access to credit and other forms of assistance.
He also shared findings from a recent livelihood baseline survey conducted in Kiphire. The survey covered 39 street vendors, of whom only 11 were aware of PM SVANidhi or any vendor-related government scheme. At the same time, 18 vendors identified loan support as their most important need.
The survey also showed that 37 out of 39 vendors already have bank accounts, indicating good access to banking services. However, greater awareness and use of credit facilities and other financial services were identified as areas requiring attention.
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The procedure for applying for PM SVANidhi was explained by Shri Tsarise, SBI CSP, Kiphire. He explained the registration process and the documents required to apply for the scheme.
Rajarshi Bhattacharjee, Branch Manager, SBI Kiphire, spoke about the role of lending institutions in supporting street vendors. He said that PM SVANidhi is one of the schemes he particularly values and shared that loans for vendors in Kiphire had recently been sanctioned. He expressed happiness that the beneficiaries were women and that they had been repaying their EMIs on time.
He assured the gathering that eligible vendors would be supported in accessing the scheme and said that he would extend his support from the bank’s side.
Two selected PM SVANidhi beneficiaries also shared their experiences. They said that the scheme had been helpful and that timely repayment had enabled them to receive cashback and other government benefits. They encouraged other vendors to use digital payment methods and make timely repayments.
The programme concluded with an emphasis on increasing awareness of PM SVANidhi, encouraging digital payments, improving financial literacy and helping more street vendors access formal credit and government support.
