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SRINAGAR: In a major boost to financial inclusion and livelihood support for street vendors, the Hon’ble Prime Minister of India today launched a dedicated credit card facility and disbursed loans to one lakh beneficiaries across the country under the PM SVANidhi Scheme, during a national-level programme.
In this connection, Srinagar Municipal Corporation (SMC) webcasted live the launch of the PM SVANidhi Credit Card Facility during an event, and proceedings were collectively viewed by officers, officials, and beneficiaries at SMC.
The event at SMC was attended by Deputy Commissioner Srinagar, Akshay Labroo and Commissioner, Srinagar Municipal Corporation, Faz Lul Haseeb, along with Joint Commissioners SMC, senior officers, and staff of the Corporation.
On the occasion, Deputy Commissioner, Srinagar and Commissioner SMC, distributed sanction letters and credit cards to eligible beneficiaries, marking an important step towards ensuring timely access to institutional credit and strengthening the financial empowerment of street vendors.
The initiative aims to provide easy access to institutional credit for street vendors, enabling them to strengthen and expand their businesses, meet working capital requirements, and achieve economic self-reliance. The newly introduced credit card facility will ensure seamless, flexible, and timely credit, further integrating beneficiaries into the formal financial system.
The officers interacted with the beneficiaries and reviewed the on-ground implementation of the scheme, reaffirming the administration’s commitment to the effective delivery of welfare initiatives.
The launch of the credit card facility and large-scale loan disbursement underscores the Government’s resolve to ensure last-mile delivery of welfare benefits, promote self-employment, and build a resilient and inclusive economy.
