Madhya Pradesh CM deposits interest-free loan amount of Rs 10,000 each in accounts of rural street vendors

Madhya Pradesh: Chief Minister Shivraj Singh Chouhan today deposited an interest-free loan amount of 10 thousand rupees each in the accounts of around 10 thousand rural street vendors at a function organized in Bhopal.

He also held discussions with rural street vendors through video conferencing. Loan distribution programmes for rural street vendors have been also organized today in other districts of the state.

The Mukhyamantri Street Vendor Scheme has been made for the street vendors residing in the villages and towns of Madhya Pradesh on the lines of the Pradhan Mantri Swanidhi Yojana launched for urban street vendors by Prime Minister Narendra Modi.

Under the Mukhyamantri Street Vendor Scheme, working capital of up to 10 thousand rupees will be provided by the bank without any guarantee and interest for small businessmen between 18 and 55 years of age. This loan will have to be repaid within a year.

On payment of loan on time, interest free loans of up to 20 thousand rupees will be available under the scheme for business next year. Apart from this, the beneficiary will also get an incentive of 1,200 rupees for making digital payment.

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