'SVANidhi Mahotsav' held in J-K's Anantnag to honour nano entrepreneurs

Anantnag (Jammu and Kashmir) [India], July 25 : To celebrate and recognize the growth story of street vendors under the PM SVANidhi Scheme and honour their contribution to the economy, a mega "SVANidhi Mahotsav" was held in Khanabal area of Jammu and Kashmir's Anantnag.
Hundreds of street vendors across Jammu and Kashmir, officials from various government departments, school students and local residents participated in the event that was held on July 21.
The event was organised by the district Municipal Council as a part of "Azadi ka Amrit Mahotsav" and was presided over by the Principal Secretary of the Housing and Urban Development Department, Dheeraj Gupta.
In order to motivate the street vendors, he also awarded them with a certificate of appreciation.
A local resident, Tariq Wani said, "It was really wonderful to see street vendors over here celebrating "SVANidhi Mahotsav". Other than that, we are very thankful to Anantnag Municipal Council which always helps the people of the district."
As a part of the event, a number of stalls were set up by different departments to raise awareness of street vendors about various government schemes.
Sports competition in the form of Kabbadi and volleyball matches was also organised during the festival.
A "Nukkad Natak" highlighting the plights of street vendors and featuring the benefits of the SVANidhi scheme was also presented by a group of school students.
A folk dance performance by Kashmiri girls in their traditional attire added colour to the event.
"The programme was very good, there were cultural as well as sports events. Other than this, the stall showcasing our Kashmiri dry fruits was also set up. More such programmes should be organised in future as well," a local resident, Mohammad Arif said.
The PM Steet Vendor's AtmanNirbhar Scheme (SVANidhi Scheme) is a special micro-credit facility that was launched by the Ministry of Housing and Urban Affairs on June 1, 2020.
While providing affordable loans to street vendors, it also aims to empower and help them recover losses incurred as a result of the COVID-19 pandemic.
Under the scheme, vendors can avail of a working capital loan of up to Rs 10,000, which is repayable in monthly instalments in the tenure of one year.
It also offers incentives in the form of interest subsidy of 7 per cent per annum on regular repayment of the loan, cashback up to 12,000 per annum on undertaking prescribed digital transactions and eligibility for enhanced next tranche of loans.
In Jammu and Kashmir, more than 14,000 loans have been sanctioned in the favour of street vendors under the SVANidhi scheme during the pandemic.