Rajasthan govt to provide interest-free loan to street vendors

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  • Rajasthan government has announced a scheme to provide an interest-free loan of ₹50,000 to street vendors, cobblers, carpenters, rickshaw pullers, painters etc with the aim to assist around 5 lakh poor people hit by the Covid pandemic.
  • The state finance department issued a circular last week regarding the scheme named Indira Gandhi Urban Credit Card Scheme- 2021 in compliance with the budget announcement made by chief minister Ashok Gehlot.
  • The scheme aims to create employment or self-employment opportunities in the urban areas of the state. Loans under the scheme can be sanctioned till March 31, 2022 and the loan moratorium period will be 3 months and the loan repayment period will be 12 months.
  • “The objective behind the scheme is to provide interest-free micro-credit facility without any guarantee; developing and encouraging small traders; promoting self-employment; finances for daily requirement; and reducing the impact of Covid19,” states the circular.
  • 5 lakh beneficiaries between 18-40 age group will be given loans under the scheme on a first come first serve basis, the government circular said. Those with a monthly income of ₹15,000 and more or monthly family income of ₹50,000 and more will not be eligible for the scheme.
  • The beneficiaries will be identified at the district level on the basis of certificates issued to the vendors by the urban local bodies. The applications received at the portal will be screened and forwarded to the district collector for processing.
  • Source : www.hindustantimes.com

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