By Reuters | MUMBAI |
Topics Banks | Street vendors | Madhya Pradesh
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.
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