During the Corona period, to help the street vendors and phadwalas, the government gave a loan of ten thousand rupees to their accounts, but these accounts have now become NPA (Non-Performing Asset). Phad and street vendors are not depositing loan installments on time. In Bijnor district, about 40 percent of the nine thousand loan accounts have become NPA. Now the government is planning to give a loan of 20-20 thousand to these people. Only those who deposit the installment on time will be able to take advantage of this loan.
Last year at the time of Corona, the business of the public was greatly affected. Then Prime Minister Narendra Modi started the self-reliant India scheme for financial help. In this, a separate scheme was operated for each category. The Pradhan Mantri Svanidhi Yojana was also run for the roadside vendors and street vendors in cities. Under the scheme, a loan of ten thousand rupees was given to increase the work of the phad and street vendors registered in the municipality.
There was also an interest subsidy of seven percent on this loan. More than nine thousand phad and street vendors have got the benefit of this scheme in the district. Ten thousand rupees were deposited in their accounts. An installment of Rs 975 was fixed every month to pay off this loan. But most of the street vendors did not deposit this amount in banks and their accounts became NPA.
Such consumers will not get the benefit of the new scheme till they do not regularize the account i.e. do not deposit the old installment. Now the government is preparing to give a loan of 20-20 thousand rupees in these accounts, but the consumers with NPA will not get the benefit of this scheme.
Non-payment of installment for three months leads to NPA
The loan given to the account traders, entrepreneurs, shopkeepers is called term loan. Its monthly installment is fixed. The account becomes NPA for non-payment of installments for three consecutive months. No loan of any kind is given to the NPA account till it becomes regular.
According to Duda Project Officer Narendra Mishra, many of the people who were given the benefit of the scheme have not deposited the installment. Now there is a plan to give more loans to such people. In order to avail the benefit, the eligible are being asked to pay the installment to the bank.
This news has not been edited by Apni Kheti staff but has been published by various news feeds
Source: Amar Ujala
