The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) is a government initiative launched by the Ministry of Housing & Urban Affairs on June 1, 2020, designed to empower street vendors in urban areas by providing them with financial assistance and supporting their overall development.
 
Key Features

• Collateral-Free Working Capital Loans:
• Initial loan of up to ₹10,000 for one year.
• Subsequent loans can be ₹20,000 and ₹50,000, available based on repayment history.

Interest Subsidy:

• 7% per annum interest subsidy for regular loan repayment.
• Digital Transaction Incentives:
• Cashback up to ₹1,200 per year for prescribed digital payments.

Eligibility for Enhanced Loan:

• Regular repayments can make vendors eligible for larger subsequent loans.
• No Collateral or Security Required:
• Loans are provided without collateral or security, and there are no processing charges or prepayment penalties.

Eligibility

• The scheme is available for:
• All street vendors engaged in vending in urban areas as on or before March 24, 2020.
• Vendors identified and issued a Certificate of Vending/Identity Card by urban local bodies.
• Those identified by Urban Local Bodies (ULB) or Town Vending Committees (TVC), including those from peri-urban/rural areas vending in ULB limits, if recommended by the ULB/TVC.
• Vendors who missed formal surveys but received Letters of Recommendation.

Application Process

• Vendors can apply online via the PM SVANidhi portal or at nearby Common Service Centres.
• They must ensure their mobile number is linked to Aadhaar and check eligibility per scheme rules before applying.

Scheme Period and Updates

• The lending under PM SVANidhi is extended until December 2024, with guarantee and interest subsidy claims available until March 2028.

Additional Benefits

• Encourages digital transactions by providing rewards.
• Issuance of Rupay Debit cards to beneficiaries for digital banking and payments.

The PM SVANidhi scheme continues to support street vendors, helping them recover and grow economically in the post-pandemic environment with easy and affordable credit, digital transaction incentives, and minimal bureaucratic hurdles.
 
Recent Updates on PM SVANidhi Scheme (2025)
 
1. Revamped Scheme Announced in Union Budget 2025

• As per the Union Budget 2025, the PM SVANidhi Scheme has been revamped with several new features to further support street vendors:

• Enhanced Loans: The scheme now offers enhanced credit facilities from banks.
• UPI-linked Credit Cards: Introduction of UPI-linked credit cards with a ₹30,000 limit for street vendors.
• Capacity-building Support: The scheme emphasizes increasing financial and digital literacy among beneficiaries to ensure better utilization of resources and services.

• Over 68 lakh street vendors have benefited from the scheme to date, significantly reducing dependence on high-interest informal loans and improving their economic well-being.

2. Interest Subsidy and Digital Transactions

• Street vendors benefit from a central government interest subsidy of 7% and in certain states, additional subsidy from state governments.
• Adoption of digital transactions is incentivized, with digital tools like QR codes and monthly cashback provided for UPI or similar payments.

3. Integration with Other Welfare Schemes

• The scheme under its ‘SVANidhi Se Samridhi’ initiative is integrating beneficiaries and their families with eight central government welfare schemes (including Jan Dhan, Jeevan Jyoti Bima, Shram Yogi Maandhan, and others) for broader social security.

4. State-level Implementation Highlights

• For example, in Uttarakhand by July 2025, loans of ₹65.61 crore had been disbursed to over 42,790 street vendors, with three phases of loan enhancement (₹10,000, ₹20,000, ₹50,000).
• Digital literacy for vendors is being mainstreamed, with most now enabled for QR code payments.

The PM SVANidhi Scheme in 2025 features enhanced loan limits, UPI-linked credit cards, digital transaction incentives, state-level interest subsidies, and integration with other welfare schemes. It continues to be pivotal in empowering millions of street vendors and supporting their businesses in urban India.

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