Union Bank of India distributes loans to street vendors under PM Svanidhi Scheme
The event was chaired by Navneet Kumar Gupta (DGM) Regional Head of Union Bank of India
cityairnews
Jun 30, 2021 09:37
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Ludhiana: India's one of the leading Public Sector Banks Union Bank of India, Regional Office, Ludhiana organized a camp at Regional office premises to facilitate loans to more than 100 street vendors under the PM Street Vendor's Atmanirbhar Nidhi (PM Svanidhi) Scheme on June 29.
The event was chaired by Mr. Navneet Kumar Gupta (DGM) Regional Head of Union Bank of India under the guidance of Mr. Rajkiran Rai G (MD & CEO), Mr. Dinesh Kumar Garg (Executive Director) & Mr. Jagmohan Singh (FGM). Mr. Sanjiv Kumar (AGM) SARAL Head, Ludhiana, Mr. Ajay Bhatia, AGM (Dy. Regional Head), Mr. Bijendra Kumar (Branch Head, GT Road Branch) and other dignitaries also participated in the camp.
Mr. Tiger Singh, President of Ludhiana Rehri Phari Federation was also present. The scheme facilitated registered street vendors in the city to relaunch their business which suffered due to the Covid-19 pandemic and subsequent lockdown.
The Bank has already sanctioned 575 proposals under the scheme.
On June 29, another more than 100 street vendors were given sanction letters.
Mr. Navneet Kumar Gupta (DGM) Regional Head informed that this camp would definitely help the street vendors to cope up with this pandemic situation. He also emphasized that the vendors who would repay early, will be eligible for the next cycle of Working Capital Loan with the enhanced limit.
Mr. Ajay Bhatia, AGM (Dy. Regional Head) concluded the programme and appreciated the effort of Branch officials. Union Bank of India is a pioneer in conducting these kinds of initiatives for the social welfare of the society. Union Bank Parivaar expects that with the benefit of this scheme, it will create a safety net, helping in the poverty alleviation of the country.
