The Economic Times

Govt pushes PSU banks to develop loan products of up to 1 lakh each for street vendors

Public sector banks are developing new loan products up to 1 lakh for street vendors, aiming to help them build credit histories and transition to larger Mudra loans. This initiative bridges a gap in micro-credit, enabling vendors to scale their businesses. The government is also pushing for Grameen Credit Score integration to improve access to formal credit for first-time borrowers.