12-13% NPAs in street vendors loan scheme, says minister Hardeep Singh Puri

Jul 07,2022

Housing and Urban Affairs Minister Hardeep Puri said on Thursday that loans given to street vendors under the Prime Minister’s Street Vendors Atmanirbhar Nidhi (PM-Svanidhi) scheme form part of non-performing assets (NPAs).

According to the official PM-Svanidhi website, the scheme, launched on July 2, 2020, has so far disbursed loans of ₹10,000 to 30.23 lakh street vendors, of which 11.63 lakh loans have been repaid. After the repayment of the first loan, sellers are eligible for a second loan of ₹20,000 and then a third loan of ₹50,000. Out of total ₹20,000 loans, 4.35 lakh have been sanctioned, out of which 417 have been repaid. Fifty-six loans worth Rs 50,000 have been disbursed, while none of them have been repaid yet.

At a press conference, Mr Puri launched the Svanidhi Mahotsav, a series of cultural programs for street vendors and the public under the Amrit Mahotsav of Independence, which will be launched in 75 cities. When asked about NPAs under the scheme, Mr Puri said they were “12-13%”, which was not a concern for him. “NPAs are manageable,” he said.

When asked about the ongoing Central Vista Avenue project, Mr. Puri said the work would be completed by July 18.