The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is a government initiative launched in June 2020 to support street vendors across India, especially in the wake of hardships caused by the COVID-19 pandemic.
(PM SVANidhi) Scheme: Check New Rules for Beneficiaries
PM SVANidhi Scheme Expands: Check New Rules for Beneficiaries. It aims to provide working capital loans and promote financial inclusion, entrepreneurship, and digital transactions among street vendors.
Key Features of PM SVANidhi Scheme (Updated 2025)
Objective: To provide collateral-free working capital loans to street vendors to help them restart and grow their businesses.
Loan Amounts:
- First tranche: Up to ₹15,000 (increased from ₹10,000)
- Second tranche: Up to ₹25,000 (increased from ₹20,000)
- Third tranche: Up to ₹50,000 (unchanged)
Lending Period Extended: The scheme was initially set to end in December 2024 but has been extended till March 31, 2030.
Interest Subsidy: 7% interest subsidy is provided on loans for timely or early repayment, making loans affordable.
UPI-Linked RuPay Credit Card: Introduced for beneficiaries who have repaid their second loan, providing immediate credit access for business and personal needs.
Digital Cashback Incentives: Street vendors receive cashback up to ₹1,600 for digital retail and wholesale transactions through UPI.
Coverage Expansion: Initially for vendors in statutory towns, the scheme is gradually expanding to census towns, peri-urban, and rural areas.
Capacity Building: The scheme promotes entrepreneurial skills, financial literacy, digital skills, hygiene, and safety training (especially for street food vendors in partnership with FSSAI).
SVANidhi Se Samriddhi: A component focused on the holistic welfare of vendors and their families by facilitating access to multiple government welfare schemes via monthly Lok Kalyan Melas.
Impact So Far (As of July 2025)
Over 96 lakh loans totaling ₹13,797 crore have been disbursed to more than 68 lakh street vendors.
Nearly 47 lakh beneficiaries are digitally active, conducting over 557 crore digital transactions worth ₹6.09 lakh crore, earning cashback incentives amounting to ₹241 crore.
The scheme has greatly enhanced the formal recognition and financial inclusion of street vendors, giving them a stronger identity in the economy.
Eligibility and Application
Open to street vendors engaged in vending goods or services in urban, semi-urban, and peri-urban areas.
Vendors can apply online or through Common Service Centres (CSCs).
No collateral required; loans are provided at low interest rates as per prevailing bank or NBFC rates.
Documents required primarily include KYC and proof of vending activity.
(PM SVANidhi) scheme Summary
The PM SVANidhi scheme represents a transformative step toward empowering India's street vendor community by providing financial support through collateral-free loans, encouraging digital transactions, and linking them with broader government welfare initiatives.
With the extension and restructuring in 2025, more vendors can access higher loan amounts and benefit from digital credit tools and incentives, ensuring sustained livelihood growth and economic resilience.
This initiative not only supports immediate financial needs but also builds long-term entrepreneurial capacity and digital adoption among one of the most vulnerable yet vital segments of the informal economy in India.
