Govt pushes state-run banks to step up loans to street vendors: Report


By Nupur Anand MUMBAI (Reuters) - Banks in Madhya Pradesh are scrambling to boost lending to street vendors in a bid to bolster numbers ahead of a visit this week by Prime Minister Narendra Modi, according to sources and letters seen by Reuters. A scheme that is part of a coronavirus relief package launched this year offers collateral-free loans of 10,000 rupees ($136.

13) to help an estimated 5 million street vendors, but state-run banks mired in bad debt have been hesitant to lend. "All bank branches in the state need to.

This article is no longer available in our repository.

There could be multiple reasons for this.