Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Monday 14 June 2021

RBI : Do not Nudge : Shove

 


 

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 ]

Thank You, Shri Hardeep Singh Puriji ………………………..[ 01 June 2020 ]

Providing Jobs : a Fundamental Right ? ……………………..[ 07 June 2020 ]

Congratulations , Shri Mahesh Kumarji ……………………..[ 20 June 2020 ]

God appears as Roti …………………………………………………..[ 30 June 2020 ]

Street Vendors : How to Organize ?...............................[ 21 July 2020 ]

Fresher need not apply ? ……………………………………………[ 09 Sept 2020 ]

Summary of E-Mails to Cabinet Ministers > SELF EMPLOYMENT ……………..[ 10 Mar 2021 ]

 

 

 

 

 

 

 

 

 

 

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