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

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 Rs 10,000 ($136.13) to help an estimated 5 million street vendors, but state-run banks mired in bad debt have been hesitant to lend.

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