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Financial Inclusion of street vendors – Promotion of Micro Enterprises

Financial Inclusion of street vendors – Promotion of Micro Enterprises. State Bank Of India. Financial Inclusion. Finance to Street Vendors. Mostly rely on personal savings to invest in their personal, social and professional areas

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Financial Inclusion of street vendors – Promotion of Micro Enterprises

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  1. Financial Inclusion of street vendors – Promotion of Micro Enterprises State Bank Of India

  2. Financial Inclusion

  3. Finance to Street Vendors • Mostly rely on personal savings to invest in their personal, social and professional areas • Work on turnover basis and often avail recourse to high interest loans from non-institutional lenders • High repayment capacity but absence of Collateral and firm domiciliary status restrict institutional credit

  4. Challenges associated with Financial Inclusion of Street Vendors • Lack of KYC documents • Lack of Financial literacy • Lack of financial accessibility • Lack of regular Substantial income (Uncertainty) • Low level of savings • Unable to provide security against Credit

  5. Prospective Solutions

  6. ContributionUnder Mudra Loan, SBI has disbursed 5.28 lakhcrore to 11.96 crore beneficiaries during last 3 years.

  7. THANKS

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