TA & Hills Minister Reviews Implementation of PM Svanidhi scheme

Churachandpur, June 05 2021: TA & Hills Minister, Vungzagin Valte convened a meeting with all the Banks (Public & Private) operating within Churachandpur district today at DTC Hall, Tuibong.

During the meeting, V Valte said that all ATMs will remain open 24×7 while adding that smooth banking operations and related activities are essential for the people.

The Minister said, “The banks should disburse the PM SVANidhi schemes to the approved beneficiaries as soon as possible” .

The meeting also resolved that banks operating within the district would be divided into group A and B.A group which consists of Axis Bank, Bank of Baroda, HDFC, MRB, MSCB, SBI/CCP, SBI/Pearson, UCO Bank, Thanlon SBI and ICICI would be opened for transaction on Mondays, Wednesdays and Fridays whereas B group which consists of Canara Bank, CBI, IDBI, PNB, SBI/ Tuibong, SBI/New Lamka, SBI/Loktak, Bank of Baroda/Vijaya Bank and MRB/Saikot would be opened on Tuesdays, Thursdays and Saturdays.

The District Administration would provide adequate security at the bank branches to maintain social distancing and other COVID-19 protocol.

It may be mentioned that under the PM SVANidhi scheme, street vendors could avail collateral-free working capital loans up to Rs 10,000 on one year repayment period.

An interest subsidy at 7 per cent per annum would be credited to the street vendor’s account on timely repayment.

The number of LoR applications received in relation to PM SVANidhi in the district is 321, out of which 293 are already approved.