Port Blair, Jul 03: To eradicate the unemployment situation in urban areas, the Port Blair Municipal Council has facilitated loans under the Self Employment Programme (Individual Loan) a component of DeendayalAntyodayaYojana – National Urban Livelihood Mission and disbursed to Mr. P.Srinivas Rao on 02nd July 2022 in the Conference Hall, PBMC.
Mrs. U. Kavitha, Chairperson, PBMC handed over the sanction order for Rs. 1.90 lakhs which was sanctioned by Canara Bank, Port Blair II to Mr.P.Srinivas Rao to set up a self-employment livelihood-oriented project. Mr.AzizurRehaman, SVC, PBMC, Mr.Irulappan Sr. Manager, Mr.Shanavaz, Manager of Canara Bank, Officials of UPA Cell Mr. P. Raman, Mr. Vadivel, Mr.Tapan Kumar Dakuya was present on this occasion.
As of date under this scheme Bank of Maharastra, JunglighatRs. 4.4 Lakhs, Canara Bank Rs. 1.9 lakhs and Central Bank of India Rs. 1.5 Lakhs were sanctioned and Disbursed for FY 2022-23.
DAY-NULM scheme aims to the reduction of poverty and vulnerability of the urban poor households by enabling them access to self-employment resulting in improvement in their livelihood on a sustainable basis. Under the SEP component of the scheme, financial assistance with interest subvention is provided to individuals/groups and Self-Help Groups (SHGs) including street vendors/hawkers for setting up gainful self-employment ventures/micro-enterprises, suited to their skills training, aptitude, and local conditions.
Under this scheme, a loan amount of up to Rs.2.00 lakhs for an individual and up to Rs.10.00 lakhs for SHGs can be availed. The interest subvention under the scheme is approx. 5%. Women and SHGs are entitled to further interest subvention of 3% who repay their loan in time.