PM SVANidhi Boosts Livelihoods: 21.86 Lakh Loans Issued

The Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme has seen a substantial disbursement of 21.86 lakh loans, totaling Rs 6,294 crore, to street vendors over the last 12 months. The restructured phase of this collateral-free working capital loan scheme, launched on August 27, 2025, has successfully onboarded 10.56 lakh new beneficiaries.

The scheme has been strategically extended through March 31, 2030, with a forward-looking objective to support 1.15 crore street vendors, including 50 lakh new beneficiaries. Enhancing formal credit access, the government introduced UPI-linked RuPay Credit Cards, offering a credit limit of up to Rs 30,000 to eligible vendors, with 27,077 cards already approved.

Operational efficiencies have been improved through an end-to-end Digital Lending Platform for simplified loan processing. A Vendor Migration Module ensures continuity of scheme benefits for vendors moving between urban local bodies. The scheme's reach is expanding to include census towns, bringing more vendors into the formal credit ecosystem.

PM SVANidhi is now evolving beyond mere credit delivery, fostering enterprise development through initiatives like the PM SVANidhi Startup Challenge. This challenge encourages innovative solutions for market access, digital payments, and vending infrastructure. Furthermore, 50 Street Food Hubs will be developed nationwide, with cities eligible for up to Rs 4 crore in financial assistance per hub.

To bolster last-mile outreach, Lok Kalyan Melas are being organized to connect vendors with banks and local bodies for credit and capacity building. The next series of these Melas is scheduled from September 1 to September 30, 2026, underscoring the ongoing commitment to vendor empowerment.