Kudumbashree District Mission sanctions loan to 4,000-odd street vendors in Malappuram district under the Central governments PM Street Vendors AtmaNirbhar Nidhi

Under the Central government's PM Street Vendors AtmaNirbhar Nidhi, popularly known as PM SVANidhi, the Kudumbashree District Mission has approved loans for 4,000 street vendors in the district. The PM SVANidhi microcredit initiative is provided by the Ministry of Housing and Urban Affairs to the massive unorganised sector of street vendors. The system initially provides a $10,000 operating capital, encourages regular payments, and rewards digital transactions. The plan is intended to provide new options for street sellers and to assist them in moving up the economic ladder. Street vendors work in a wide range of industries, including barbershops, cobblers, pan shops, and laundry services.

The programme was created to assist street sellers who had their businesses destroyed by the COVID-19 outbreak. Jaffar K. Kokkooth, coordinator of the Kudumbashree District Mission, stated that the initial payment of $10,000 was provided with a 7% interest subsidy. He went on to say that individuals who completed their payments on time would receive a 20,000 grant and a $50,000 third installment. "Besides, they will get a cashback of up to ₹1,200 a year for online payments," Mr. Kakkooth told the news outlet. Those who participated in a municipal survey of street sellers and received identity cards and vendor certificates can apply for loans under the PM SVANidhi initiative.

Street sellers and Kudumbashree businesses who were not included in the survey can apply with a letter of reference from the Municipality.Mr. Kakkooth stated that Kudumbashree volunteers were assigned to attract as many street sellers into the scheme as possible.