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Enabling Street Vendor Financial Inclusion Through Micro Enterprises

Learn how State Bank of India promotes financial inclusion for street vendors, who often rely on personal savings or high-interest loans. Discover challenges like lack of documentation and financial literacy, and explore solutions such as Mudra Loans. SBI has disbursed 5.28 lakh crore to 11.96 crore beneficiaries in the last 3 years.

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Enabling Street Vendor Financial Inclusion Through 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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