Kohima: Akehda Amulung, working alongside the District Administration and students from St. Joseph University, is driving a new outreach effort in Kiphire to improve financial inclusion for street vendors. The team met with State Bank of India officials to discuss the implementation of the PM SVANidhi scheme, which offers essential loan facilities and banking services to small-scale entrepreneurs.
Internship students are currently performing a baseline survey across Kiphire Town to pinpoint eligible beneficiaries and gauge their socio-economic needs. This data collection serves as a vital step in connecting local workers with the broader national initiative. The PM SVANidhi program, recently extended through March 2030, provides collateral-free working capital loans of 10,000, 20,000, and 50,000 rupees. Participants also receive a 7 percent interest subsidy for timely repayments and cashback incentives for using digital transactions.
During the meeting, the SBI Branch Manager expressed support for the project and encouraged the students to continue their outreach. He noted that such efforts are crucial, stating, "The importance of banking services and financial literacy in improving the livelihoods of street vendors and small business owners" remains a top priority. Akehda Amulung continues to assist vendors with application processes and urged those in need of support to visit their office for guidance.
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