In the Union Territory of Puducherry, the Prime Minister’s SVANIDHI plan, which offers microloans to street sellers to help them support their livelihood, has drawn a sizable number of vendors, including women. One of the recipients describes the program’s value to her. “I’m Suguna, a Nellithoppu neighbourhood street trader. Under PM Svanidhi, I have been granted a loan of ten thousand rupees. For me, it was incredibly helpful. I would not be able to pay back the principal if I had obtained the funds from private money lenders since the profit would have gone towards interest only.
We can repay the main amount of bank loans as well because the interest rate is lower. We would be eligible for additional loans totaling rupees 20,000 and 30,000 if we were to repay the original loan by the deadline. For me, it is quite helpful. I congratulate the Prime Minister for this initiative on behalf of all street vendors who are similar to me.”