Sopore, Sep 29: As part of efforts to strengthen the livelihoods of street vendors and promote financial inclusion, 258 street vendors in Sopore have availed benefits under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, with loans amounting to aroundRs84 lakh reportedly disbursed, according to details highlighted in the Jammu and Kashmir Legislative Assembly by MLA Irshad Rasool Kar.
The figures were brought into focus in response to a query raised by Sopore MLA Irshad Rasool Kar, highlighting the implementation of the street-vendor support scheme in Sopore town. The initiative provides eligible street vendors with access to collateral-free working-capital credit, enabling them to sustain and expand their small businesses.
According to the information highlighted in the report, 157 vendors in Sopore have also been made digitally active, as part of efforts to encourage digital payments and bring street vendors into the formal digital economy.
PM SVANidhi was launched in June 2020 to provide affordable working-capital loans to street vendors. The scheme has subsequently been restructured and extended until March 31, 2030, with enhanced credit support and greater emphasis on digital adoption.
The Sopore figures are significant for the town’s street-vending community, where small vendors depend largely on daily working capital to purchase stock and maintain their businesses. Greater access to formal credit and digital payment facilities can help reduce dependence on informal borrowing and facilitate more transparent financial transactions.
The latest figures also indicate continued efforts by the MLA Sopore and concerned agencies to bring eligible street vendors within the ambit of formal financial-support programmes and strengthen their economic rehabilitation.
