Page 38 - BF Cover January 2021.cdr

ARTICLE

Implementation mechanism (Flowchart) urban affairs for the scheme administration. It will leverage
the network of lending institutions including the SCBs, RRBs,
Meeting to explain the scheme objective and Cooperative Banks, NBFCs and MFIs for the scheme
implementation mechanism will be organized by the ULB implementation
involving TVC members, BCs/ constituents / agents of
lending institutions, vendors associations, SHG Committee for steering & Monitoring of the
federations etc.
scheme
At Central At State / UT AT ULB
Applicants having Certificate of vending / ID card issued level level level
by ULB and those covered in the ULB led identification A steering A steering A steering
survey may approach or to be approached by the
committee committee under committee headed
representatives of the Banks, NBFCs, and MFIs
under the the chairmanship by Municipal
chairmanship of principal commissioner /
of secretary secretary / Executive officer
The lender's representatives, including BCs and Agents
will search the successful cases in IT platform/ Mobile App HUA Secretary of (EO) and supported
and verification to be done through an OTP sent to the Urban by the TVC to
beneficiary's mobile. development/ sponsor loan
Municipal application and
administration. monitor

A provision in the IT application to generate a provisional Meeting once in implementation of
CoV / ID for the street vendors covered in the 3 months the scheme. This
identification survey and not issued CoV/ID committee will
meet monthly.

After verification, BC / Agent will fill-in the application E-governance
form and upload the necessary documents To make the scheme more accessible and in line with the
vision of leveraging technology and to ensure effective
delivery and transparency, a digital platform with web
The filled in application will then move electronically to portal/mobile app is being developed to administer the
ULB/TVC. The ULB/TVC will verify the details within a scheme with end-to-end solution e.g. launch of PM SVANidhi
fortnight and then the application will move to the Mobile App on 17th July 2020. It is a user friendly digital
concerned lending institutions for sanction. A copy of
interface for Lending Institutions (LIs) and their field
letter of recommendation will be given to the applicant
functionaries for sourcing and processing loan applications.
also
This platform will integrate the web portal / mobile app with
Udyami Mitra portal of SIDBI for credit management and
PAiSA portal of MoHUA to administer interest subsidy
Street vendors not covered in the identification survey
may approach the BC/Agent with the required automatically.
documents for letter of Recommendation
Steps for Applicant-How to apply for a street
vendor loan?
Preparatory activities will be carried out during June 2020
and loans will commence from July 2020 Y Visit the website : www.pmsvanidhi.mahua.gov.in
Y Click on Login and select Applicant
Implementation partners Y Enter your mobile number and select captcha and
Small Industries Development Bank of India (SIDBI) will be request OTP
the implementation partner of the ministry of housing and Y Verify OTP sent to your mobile number

38 | 2021 | JANUARY | BANKING FINANCE