On the 11th of April, Monday, the State-Level Bankers’ Committee (SLBC) of Telangana organised a meeting to discuss the Pradhan Mantri Svanidhi (PM SVANidhi) Yojana. Under this yojana, vendors and hawkers were provided with a loan to establish and expand their business.
The meeting was attended by Mr. Amit Jhingran, the Chief General Manager (CGM) of the State Bank of India (SBI,) Dr. N. Satyanarayana, President of SLBC, Commissioner (MA&UD) and Managing Director of Mission For Elimination Of Poverty In Municipal Areas (MEPMA) Ms. Shruthi Ojha, the Additional Commissioner of the Greater Hyderabad Municipal Corporation (GHMC) Mr. Krishan Sharma, GM and Convener of the SLBC; State heads of public/private sector banks and Telangana State Cooperative Apex Bank Limited (TSCAB.)
Mr. Sanjay Kumar, the Additional Secretary of the Ministry of Housing and Urban Affairs, also visited the bank, to review the performance of banks under the PMSVA Nidhi.
As per the senior officials at the bank, the performance in terms of sanctions/disbursals under PMSVA Nidhi tranche 1 is great. Getting into the details, the officials said, they sanctioned loans to 357,290 street vendors, against 407,576 applications received (87.66%.) It further added, as against the target of 3,40,000, banks have disbursed loans to 343,587 vendors (101%.)
The State Bank of India (SBI,) with a share of 143,026 (41.62%) and the United Bank of India (UBI) with a share of 86,009 (25.03%) are major contributors to the disbursals under tranche 1.
Meanwhile, in the second instalment, banks sanctioned loans to 56,767 vendors, against 84,876 applications received. Reviewing the same, Mr. Sanjay Kumar advised controllers of banks to sanction pending applications and disburse all sanctioned loans on a mission mode latest by the 30th of April.
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