Credit card loans aid over 182,000 street vendors, jobless in Rajasthan

A credit card scheme has benefited more than 182,000 street vendors and unemployed people in the state so far.

An officer of the local self-government department said under the scheme, called “Indira Gandhi Shehari Credit Card Yojana”, interest-free loans of up to Rs 50,000 were being provided.

Giving details, he said it had provided support to youths aged between 18 and 40, working in various service sectors, such as hairdressers, rickshaw pullers, potters, carpenters, cobblers, masons, tailors, washermen, painters, plumbers, and electricians. It was aimed to benefit 500,000 people falling within the limits of municipalities, municipal councils, and municipal corporations.

The loan is approved within 25 days of the application and the credit card is delivered within three.

Until now, 182,123 beneficiaries have received loans of Rs 480.96 crore.

The scheme started in August 2021 to provide support to youths who lost their livelihood owing to the pandemic.

“An opportunity for self-employment in urban areas has been developed with this scheme,” he said.

The 100 per cent interest subsidy is being borne by the state government. The beneficiary has to repay the loan in 12 equated monthly instalments, starting from the fourth month of the loan to the 15th.

No processing fee is required for the loan.

Sangeeta Saini, a resident of Amer, which is near Jaipur, has got the loan, which helped her to restart her beauty parlour, which closed down due to lockdowns during the pandemic.