Mysuru: Delay in loan disbursal to vendors draws flak

MYSURU: ZP chief executive officer BA Paramesh on Saturday took strong objections on bankers for the poor progress in disbursal of loans to street vendors under Prime Minister's Street Vendors AtmaNirbhar Nidhi (PM SVANidhi Yojana) across the district.
At a progress review meeting here, he said the district had set the target of loan disbursal for 14,950 beneficiaries and received 20,751 applications from street vendors by the end of December.While banks have sanctioned loans to 5,341 beneficiaries, the money was released only to 2,140 beneficiaries and 528 applications were rejected.
Paramesh expressed his displeasure with bankers for not implementing the Centre’s ambitious scheme of disbursing Rs 10,000 loans to street vendors effectively. District Lead Bank manager TE Nagappa then said over 9,000 applications were pending at verification level and attributed technical reasons for poor progress in disbursal of loans.
Despite the pandemic, Mysuru district bankers have recorded a two per cent increase in disbursal of loans collection of deposits from customers when compared to the previous year, he said.
Earlier, district nodal officer for the scheme informed the ZP about the delay in disbursal of loans for street vendors, a surge in beneficiaries and problems with implementation of the scheme in the district.