Excelsior Correspondent
RAMBAN, Jan 23: The district administration Ramban today distributed PM SVANidhi credit cards and loan sanction letters among beneficiaries in the district, following the nationwide launch of the PM SVANidhi Credit Card, a significant initiative aimed at the welfare of the urban poor, by Prime Minister Narendra Modi from Thiruvananthapuram, Kerala.
The district-level programme was presided over by Member of Legislative Assembly Ramban, Arjun Singh Raju and Deputy Commissioner, Mohammad Alyas Khan.
Handing over the PM SVANidhi Credit Cards and sanction letters to the beneficiaries, the MLA and DC emphasized that the initiative would significantly benefit street vendors and hawkers in the district.
The DC informed that the PM SVANidhi scheme provides collateral-free working capital loans in three progressive stages of Rs 10,000, Rs 20,000 and Rs 50,000 to eligible street vendors. He assured that all eligible beneficiaries in the district would be covered under the scheme in a time-bound and transparent manner.
On the occasion, two beneficiaries were provided PM SVANidhi Credit Cards, eight beneficiaries were sanctioned third-stage collateral-free loans and one fresh loan sanction letter was issued by PNB, J&K Bank and SBI respectively.
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