About PM SVANidhi
- The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a Central Sector Scheme launched on 1 June 2020 to provide collateral-free working capital loans to urban street vendors.
- The scheme is implemented by the Ministry of Housing & Urban Affairs (MoHUA).
- The restructured scheme, approved by the Union Cabinet on 27 August 2025, extends lending under the scheme up to 31 March 2030.
- The restructured scheme focuses on formal credit, digital financial inclusion, social security, capacity building and entrepreneurship.
Key Features of PM SVANidhi
- Target beneficiaries: The restructured scheme aims to benefit 1.15 crore street vendors, including 50 lakh new beneficiaries.
- Collateral-free credit: Provides working capital loans to eligible street vendors without collateral.
- Digital financial inclusion: Promotes digital transactions and adoption of digital payment systems among street vendors.
- UPI-linked RuPay Credit Card: An UPI-linked RuPay Credit Card with a credit limit of up to ₹30,000 has been introduced for eligible vendors.
- Digital Lending Platform (DLP): Enables end-to-end digital processing of loans, from application and verification to approval and disbursement.
PM SVANidhi – Restructured Phase
- The restructured scheme has expanded its scope from merely providing credit to promoting livelihoods, entrepreneurship and formal financial inclusion.
- The City Region Approach expands the scheme’s reach by including Census Towns, enabling more street vendors to access formal credit and livelihood support.
- A Vendor Migration Module facilitates seamless transfer of Letters of Recommendation (LoRs) when vendors migrate between ULBs and Census Towns.
- Street Food Hubs (SFHs): 50 Street Food Hubs will be developed across the country. Cities can receive financial assistance of up to ₹4 crore per hub, including an additional ₹25 lakh for notification of vending zones.
- The PM SVANidhi Startup Challenge encourages startups and innovators to develop solutions relating to market access, digital payments, financial services, logistics and vending infrastructure.
Conclusion
PM SVANidhi has evolved from a credit-support scheme into a comprehensive livelihood and entrepreneurship initiative for street vendors. By integrating formal credit, digital payments, social security, capacity building and improved market infrastructure, the restructured scheme seeks to strengthen the economic resilience of street vendors and promote their formal financial inclusion and self-reliance.