TA&H minister reviews bank functioning, PM SVANidhi Scheme
Source: Chronicle News Service / DIPR
Imphal, June 05 2021:
Tribal Affairs & Hills minister Vungzagin Valte held a meeting with all the banks (public & private) operating within Churachandpur district, at DTC Hall, Tuibong on Saturday.
During the meeting, the minister asked the banks to ensure that all ATMs remain open 24x7 and added that smooth banking operations and related activities are essential for the livelihood of the people.
He also asked the bankers to take a relook at their practices and not to turn down PM SVANidhi scheme loan to beneficiaries on mere apprehension of possible defaulting.
"Banks should disburse loans to the approved beneficiaries under PM SVANidhi schemes as soon as possible," he added.
The meeting resolved that banks operating within the district will be divided into group A and B .
Group A, which consists of Axis Bank, Bank of Baroda, HDFC, MRB, MSCB, SBI/ CCP, SBI/Pearson, UCO Bank, Thanlon SBI and ICICI will open for transaction on Mondays, Wednesdays and Fridays whereas group B which consists of Canara Bank, CBI, IDBI, PNB, SBI/ Tuibong, SBI/New Lamka, SBI/Loktak, Bank of Baroda/Vijaya Bank and MRB/Saikot will open on Tuesdays, Thursdays and Saturdays.
The local administration will provide adequate security at bank branches to maintain social distancing and to ensure staggered entry of visitors in the bank.
It may be mentioned that, street vendors can avail collateral-free working capital loans of up to Rs 10,000 with a one year repayment period under the PM SVANidhi scheme.
An interest subsidy at 7 per cent per annum is credited to the street vendor's account on timely early repayment.
The number of LoR application received in relation to PM SVANidhi in the district is 321 out of which 293 have already been approved.