PM SVANidhi
Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi
About the Scheme
The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a Central Sector Scheme implemented by the Ministry of Housing and Urban Affairs (MoHUA), Government of India, to provide affordable and collateral-free working capital credit to street vendors and support them in strengthening and expanding their livelihood activities
The scheme was launched on 1 June 2020 and has subsequently been restructured and extended. The lending period has been extended up to 31 March 2030, with an enhanced focus on credit access, digital transactions, entrepreneurship, financial literacy and the overall socio-economic development of street vendors and their families.
Objectives
The major objectives of PM SVANidhi are:
- To facilitate easy and affordable access to working capital loans for street vendors.
- To enable street vendors to restart, sustain and expand their businesses
- To encourage street vendors to become part of the formal financial system.
- To promote digital transactions and build a digital transaction history
- To encourage timely repayment and responsible credit behaviour.
- To facilitate access to higher loan amounts based on satisfactory repayment.
- To promote entrepreneurship, financial literacy, digital skills and marketing capabilities.
- To facilitate convergence with other Central Government welfare schemes for the comprehensive development of street vendors and their families.
Loan Facility
Under the restructured PM SVANidhi Scheme, eligible street vendors can avail working capital loans in successive tranches:
| Loan Tranche | Maximum Loan Amount |
|---|---|
| First Tranche | Up to ₹15,000 |
| Second Tranche | Up to ₹25,000 |
| Third Tranche | Up to ₹50,000 |
The higher loan tranches are intended to support vendors who demonstrate satisfactory repayment behaviour.
Interest Subsidy
Eligible beneficiaries are provided an interest subsidy of 7% per annum, subject to the applicable scheme guidelines and conditions.
Digital Transaction Incentives
Eligible vendors can receive cashback incentives of up to ₹1,200 for eligible retail and wholesale digital transactions, subject to guidelines.
UPI-Linked RuPay Credit Card
Street vendors who have successfully repaid the second loan may become eligible for a UPI-linked RuPay Credit Card, subject to eligibility conditions and lending institution norms.
- Support
- Street Vendors
- Build a Stronger
- India