Banks give loans to 3.57L street vendors in TS under PMSVANidhi

Hyderabad: Banks in Telangana together have sanctioned loans to 87.66 per cent of applications received under Prime Minister Street Vendors AtmaNirbhar Nidhi (PMSVANidhi) tranche-1. The banks in the State have provided loans to 3,57,290 street vendors against 4,07,576 applications received under PMSVANidhi.

This was informed in State Level Bankers' Committee (SLBC), Telangana has convened a Bankers Meeting on Monday, coinciding with the visit of Addl. Secretary, Ministry of Housing and Urban Affairs, Govt of India, Sanjay Kumar to review the performance of banks under PMSVANidhi.

State Bank of India with a share of 1,43,026 (41.62 per cent) and Union Bank of India with a share of 86,009 (25.03 per cent) are major contributors in disbursals under tranche-1, together contributing 67 per cent of disbursals in the State. About 96 per cent of the sanctioned loans have been disbursed by the banks.

Out of total sanctions made under tranche-1, public sector banks have contributed to 80 per cent sanctions, RRB contributed to 9 per cent and private sector banks contributed to 3 per cent of sanctions. As far as the districts are concerned, under tranche-1, twelve districts have achieved beyond 90 per cent and few districts viz Medak, Jogulamba

Gadwal, Rangareddy, JS Bhupalapally, Suryapet, Sangareddy, Wanaparthy and GHMC have achieved below the State average of 84.30 per cent. Under tranche-2, the banks together have sanctioned loans to 56,767 street vendors against 84,876 applications received i.e., 67 per cent of the applications received have been sanctioned.

President SLBC said that progress under PMSVandhi is regularly reviewed in Sub Committee meetings as well as SLBC meetings apart from the regular follow up with the banks and LDMs.

Sanjay Kumar has reviewed bank wise progress and advised the Controllers of Banks to sanction the pending applications and disburse all the sanctioned loans on mission mode latest by 30 April 2022. He advised the banks to update the portal immediately on sanction/ disbursal. He expressed that Telangana has topped in disbursals across India for a long time but now that Madhya Pradesh has taken over the

number one position. He urged the banks here to try and regain the numero uno position.