Indian Bank to pay subsidy, cash back to street vendors under PM SVANidhi

Bank signs MoU with Ministry of Housing & Urban & Sidbi, completes digitisation for a few other schemes

Indian Bank on Thursday signed a Memorandum of Understanding (MoU) with the Ministry of Housing and Urban Affairs (MoHUA), and Small Industries Development Bank of India (Sidbi) for payment of subsidy and cash incentives to street vendors under PM SVANidhi Scheme. 

Padmaja Chunduru, MD & CEO, Indian Bank said street vendors are a very important constituent in the urban economy and offer varied services to the public. They are engaged in productive activities for their livelihood. 

"It is a privilege for the bank to associate with PM SVANidhi,