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Interest-free loans up to Rs 10,000 will be provided to small and petty vendors in State under Jagananna Thodu Scheme.

Aim

To provide financial assistance to small scale businesses, including traditional occupations and street vendors.

Objective

To free vendors from paying heavy interest to private parties and fall into debts.

Details

• The banks will be providing loans to all the eligible members and the government shall pay interest on the loan amount to banks.
• The State government had also started a special web portal to coordinate with banks and to implement the scheme giving no scope for corruption.
• The beneficiaries will also be provided with QR-based smart ID cards and the scheme will be monitored by SERP, MEPMA officials.
• Vegetable vendors, fruit vendors, small shopkeepers, pushcart vendors, and traditional artisans are eligible to apply for the scheme.

Source: The Hindu