Several street vendors lack awareness of the scheme, and many do not receive the funds. Street vendors lack awareness of the loan scheme, and many face fund shortages due to banks’ reluctance to provide funds. Ashraf, a fruit juice vendor in Shivaji Nagar, said, “I’m not aware of this scheme. If there is such a […]
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Banks are coming up with separate gold loan branches to woo customers away from NBFCs The Non Banking Financial Companies (NBFC) are facing tough competition from banks in the gold loan segment by offering low interest rates. Commercial Banks have been expanding their gold loan portfolio. Data by BFSI shows that the portfolio saw a […]
Continue ReadingStreet vendors cannot access bank loans despite their inclusion in MSMEs. Urban street vendors now fall under the ambit of Ministry of Micro, Small, and Medium Enterprise (MSME) but they are unable to get loans because they fail to meet the eligibility criteria. Vijaylaxmi, a street vendor at Krishna Rajendra (K.R.) Market said that she […]
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