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Minister of State (MoS) for Finance holds a zonal level meeting in Bhubaneswar

 Review the progress and performance of PM SVANidhi scheme in the Eastern States of Bihar, Jharkhand, Odisha and West Bengal

Bhubaneswar:12/8/23:Dr. Bhagwat K. Karad, Minister of State (MoS) for Finance, today chaired a regional level meeting in Bhubaneswar, Odisha to assess and review the progress and performance of PM SVANidhi scheme in the States of Bihar, Jharkhand, Odisha and West Bengal with special emphasis on reducing the number of applications returned by banks.

The meeting was attended by Principal Secretary, Urban Development, Odisha, other officials of State/UT Government, Commissioners of Municipal Administration & SLBC Conveners from the respective States/UTs, EDs from PSBs and local heads of Banks. Joint Secretary, MoHUA and Joint Secretary, DFS along with MD & CEO, UCO Bank were also present in the meeting.


In the meeting, MoS assessed and reviewed the progress of states viz. Bihar, Jharkhand, Odisha, West Bengal) in terms of achievement of disbursement targets under the PM SVANidhi Scheme in these states.MoS (Finance) requested all ULBs to review the applications returned by banks and resubmit these applications to banks after rectification of deficiencies for further sanction and disbursement. MoS (Finance) requested all Urban Local Bodies (ULBs) to work in camp mode and mobilize fresh applications for banks to sanction/ disburse these applications to achieve the targets in a time bound manner.


MoS (Finance) instructed all banks and ULBs to work in collaboration with each other to achieve the goals of the PM SVANidhi scheme. He also encouraged them to intensify their efforts with innovative strategies to enhance the digital onboarding of street vendors.

MoS (Finance) also emphasized on improvement in profiling of PM SVANidhi beneficiaries and their family members and facilitate their linkages to various central welfare schemes.

Update on PM SVANidhi scheme: 

PM SVANidhi scheme envisages empowerment of street vendors through hassle-free access to affordable credit and digital onboarding for their economic development.

The Scheme continues to make significant strides in providing credit support to street vendors. The scheme performance is regularly monitored jointly by Ministry of Housing and Urban Affairs (MoHUA) & DFS for ensuring its effective implementation across the country. As of 9th August 2023, 56.70 lakh applications have been sanctioned while 53.19 lakh applications have been disbursed amounting to Rs. 6,883crores.


About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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