The Kakinada Municipal Corporation (KMC) have identified several green vending zones (GVZ) across the Smart City, enabling street vendors to run their business without any disturbance to vehicular movement and parking. Each street vendor has been sanctioned a loan of ₹10,000 under the PM Street Vendor’s Atmanirbhar Nidhi (PMSVANidhi) scheme and the State government would bear the one-year interest on the loan. The Kakinada Municipal Corporation (KMC) urged people to encourage the vendors in the zones as the initiative would help maintain better civic conditions in the city.
About PM Street Vendor’s Atmanirbhar Nidhi (PMSVANidhi) scheme
Union Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment. The scheme intends to facilitate collateral free working capital loans of up to INR10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas.