States » SouthPosted at: Sep 28 2026 11:48PM


AP: GVMC disburses Rs 12.95 crore in loans to 6,517 street vendors under PM SVANidhi

Visakhapatnam, Sep 28 (UNI) The Greater Visakhapatnam Municipal Corporation (GVMC) on Monday facilitated the disbursement of Rs 12.95 crore in loans to 6,517 street vendors across its limits under the PM SVANidhi scheme, aimed at improving access to institutional credit and strengthening small businesses.
GVMC Project Director (UCD) B.V. Ramana while sharing the details after a meeting with Town Vending Committee members at the Bheemili Zonal Office, here, said the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme provides collateral-free working capital loans to eligible street vendors in successive tranches of up to Rs 15,000, Rs 25,000 and Rs 50,000, enabling them to sustain and expand their businesses and gain access to formal financial services.
Ramana said around 4,000 more street vendors were yet to receive bank loans, and the GVMC’s Urban Community Development (UCD) and MEPMA departments were working to facilitate loan sanctions in phases.
The civic body is also working to improve vendors’ access to banking and other financial services. Credit cards have so far been issued to 25 street vendors, he said.
In addition, steps are being taken to extend social security and insurance benefits, including coverage under the Pradhan Mantri Jeevan Jyoti Bima Yojana.
Ramana urged vendors to utilise the available government schemes to expand their businesses and improve their financial security.
Representatives of SBI and HDFC Bank, Town Vending Committee members, GVMC and MEPMA officials, and other representatives attended the meeting.
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Tags: #AP: GVMC disburses Rs 12.95 crore in loans to 6#517 street vendors under PM SVANidhi
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