PM SVANidhi (Prime Minister Street Vendor’s AtmaNirbhar Nidhi) is a government-backed micro-credit scheme in India designed to support street vendors by providing affordable collateral-free loans and facilitating their economic upliftment.
PM SVANidhi Scheme Overview
The PM SVANidhi scheme was launched on June 1, 2020, in response to hardships faced by street vendors during the COVID-19 pandemic.
It aims to empower street vendors by offering collateral-free working capital loans and supports holistic development such as entrepreneurship, financial literacy, and digital skills.
Key Features
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Loan Amounts:
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First tranche: up to ₹15,000 (previously ₹10,000)
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Second tranche: up to ₹25,000 (previously ₹20,000)
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Third tranche: up to ₹50,000 (unchanged)
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Eligibility: Street vendors in urban areas on or before March 24, 2020, with valid identification or a letter of recommendation from Urban Local Bodies (ULBs).
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Digital Benefits: Cashback incentives up to ₹1,600 for digital transactions using UPI-linked RuPay credit cards.
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Interest Subsidy: 7% per annum on regular repayment of loan.
Extensions and Impact
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The scheme's lending period has been extended to March 31, 2030.
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As of July 2025, more than 96 lakh loans totaling ₹13,797 crore have been disbursed to over 68 lakh street vendors.
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Nearly 47 lakh digitally active vendors have conducted over 557 crore digital transactions, earning ₹241 crore in cashback.
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The scheme is recognized nationally for promoting financial inclusion and digital empowerment and has received awards for its impact.
Holistic Support
The scheme includes a component called ‘SVANidhi se Samriddhi’ for holistic welfare, with monthly outreach events to ensure saturation of benefits for vendors and their families through various government schemes.
There is a focus on building vendor capacities, including hygiene and food safety training for street food vendors in collaboration with FSSAI.
Application Process
Street vendors can apply online via the PM SVANidhi portal or at Common Service Centres (CSC), provided their mobile number is linked to Aadhaar.
PM SVANidhi has become a vital tool for recognizing and supporting the urban informal sector, leading to socio-economic upliftment and greater financial inclusion for street vendors across India.
PM SVANidhi portal: https://www.pmsvanidhi.mohua.gov.in/
