Context
:
Step
up working capital loans to Street Vendors : RBI nudges PSBs /
Business Line / 15 June 2021
Extract
:
Ø The Reserve
Bank of India (RBI) has impressed upon public sector banks (PSBs) the need to
step up working capital loans up to ₹10,000 to street vendors, who have taken
the brunt of the COVID-19 pandemic and consequent lockdowns.
Ø The Scheme has been designed to ,
#
help FORMALIZE the Street Vendors
# open
up NEW OPPORTUNITIES to move up the economic ladder
Ø As of 14 June, No
of applications received …. ……………………………………. 42.28 lakh
Ø Loans disbursed / Loans sanctioned = 84.41 %
Ø No of Loans sanctioned and disbursed /
Total No of Applications
= 58 % ( of 42.28 lakh )
Ø Total loans approved ……………………………………………………………………Rs 2458 Crore
Ø Total loans disbursed ………………………………………………………………….Rs 2059 Crore
Ø Ave no of days to sanction a loan ………………………………………………………. 20 days
Ø Ave age of loan applicant …………………………………………………………………… 41 years
Ø No of Street Vendors accepting DIGITAL
PAYMENTS …………………………. 19,31,272
Ø These vendors received a CASH-BACK of ……………………………………………Rs
50.53 lakh
Ø 60 % of loans disbursed were to MALE street
vendors and 40 % to FEMALE vendors
Dear
RBI,
Thank you for
giving this NUDGE to PSBs ( Public Sector Banks ) . I hope PSBs will act upon
your advice expeditiously . That is good nudge
But , you can give ( this scheme ) a powerful SHOVE , by urging the Central Govt to enlarge / expand, the following ELIGIBILITY CRITERIA
( source : file:///C:/Users/HCP/Downloads/PMSVANidhi%20Guideline_English%20(2).pdf
_
Eligibility Criteria of Beneficiaries
The Scheme is available to all street vendors engaged in vending in urban areas as on
or before March 24, 2020. The eligible vendors will be identified as per
following criteria:
(i) Street vendors in possession of Certificate of Vending / Identity
Card issued by Urban Local Bodies (ULBs);
(ii) The vendors, who have been identified in the survey but have not
been issued Certificate of Vending / Identity Card; Provisional Certificate of
Vending would be generated for such vendors through an IT based Platform. ULBs
are encouraged to issue such vendors the permanent Certificate of Vending and
Identification Card immediately and positively within a period of one month.
(iii) Street Vendors, left out
of the ULBled identification survey or who have started
vending after completion of the survey and have been issued Letter of
Recommendation (LoR) to that effect by the ULB / Town Vending Committee
(TVC); and
(iv) The vendors of surrounding
development/ peri-urban / rural areas vending in the geographical limits of the
ULBs and have been issued Letter of Recommendation (LoR)
to that effect by the ULB / TVC.
For a long time,
I have been pleading with the Govt ( read my following e-mails ) to ,
Ø Not restrict the scheme ONLY to those persons
who are ( currently ) or were ( in the past ), Street Vendors or who have been
SURVEYED
I have advocated
that the Scheme should be open to ANYONE who may not be
eligible as per above criteria but who just WANTS to
become a SELF –
EMPLOYED STREET VENDOR
As simple as that
Reason is staring
in our eyes :
Ø As a result of pandemic , some 20 / 25 crore
people have lost their jobs – with no prospect of getting re-employed, any time
soon . May be never !
Ø MNREGA just cannot provide 100 days of work (
per year ) to all of these rendered jobless
Ø To this, we must add another 12 milion youth
joining our work-force every year but , for whom, neither the Govt ( PSUs ) nor
the Private Sector can provide paid jobs ( whether in large organized sector
companies or 65 million MSME )
Ø As against these figures, of the 42.3 lakh
applicants, only 24.5 lakh got sanction, leaving out 17.8 lakh
Ø 25 lakh
is just 1 percent of 2500 lakh
( 25 crore )
Ø What hope is there for the balance 99 % unemployed and
starving persons ?
===================================================
Dear Shri Narendrabhai,
I request your
PERSONAL INTERVENTION in changing the Eligibility Criteria for Street Vendor
Scheme
With regards,
Hemen
parekh / hcp@RcruitGuru.com / 15
June 2021
My earlier E Mails on the subject :
Street
Vendor Loan Scheme ……………………………………..[ 14 May 2020 ]
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