On June 1, 2020, the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) program was launched to assist street sellers who saw a decline in revenue due to the pandemic. The program offers larger loans to vendors with a solid repayment record, rewards digital payment usage, and provides loans without collateral.
In August 2025, the scheme was updated with a ₹7,332 crore budget, extended till March 31, 2030, and set a target to help 1.15 crore vendors.
PM SVANidhi: Budget & Extension
The government added more funds and extended the scheme so that street vendors can continue to receive help for a longer period. This will allow more vendors to take loans and expand their small businesses.
- Budget approved in August 2025: ₹7,332 crore
- Scheme extended till March 31, 2030
- Target: 1.15 crore vendors, including 50 lakh new beneficiaries
PM SVANidhi: Objectives & Purpose
PM SVANidhi is not just a loan plan. It also brings street vendors into the formal financial system and helps them become self-reliant.
- Provide loans without collateral
- Reward vendors for timely repayment
- Promote digital payments with cashback
- Offer training in finance and entrepreneurship
PM SVANidhi: Key Features & Loan Details
The scheme lets vendors start with small loans and then grow to bigger amounts if they repay on time. It also reduces financial stress with subsidies and digital rewards.
- First loan: up to ₹10,000 for one year
- Next loans: ₹15,000, ₹25,000, and ₹50,000 (based on repayment record)
- 7% interest subsidy for timely repayment
- Cashback for UPI transactions
- RuPay Credit Card linked to UPI for those who repay their second loan
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PM SVANidhi: Eligibility & Application
The scheme makes sure only genuine vendors get the benefits. It includes existing vendors, those identified by local bodies, and others with recommendations.
- Vendors must have been working on or before March 24, 2020
- Need a valid Certificate of Vending / ID card from Urban Local Bodies
- Vendors without certificates can apply with provisional IDs or recommendations
- The scheme now covers peri-urban areas and census towns
PM SVANidhi: Achievements So Far
PM SVANidhi has already shown big success. It has helped lakhs of vendors and promoted the use of digital payments.
- ₹13,797 crore disbursed through 96 lakh loans
- Over 557 crore digital transactions recorded
- Around ₹241 crore cashback given
- 47 lakh active vendors using digital payments
- Social Recognition and Economic Integration
- More than just money, PM SVANidhi gives respect and recognition to street vendors. For many, it is the first time they are officially recognised as part of the economy.
- Vendors get identity and certificates from local bodies
- Linked to the formal banking system
- Builds dignity, trust, and financial security
- Strengthens urban economies by linking informal businesses with formal systems
Why the Scheme Matters?
The PM SVANidhi Yojana is a step towards inclusive growth. The government collected the funds and expanded the initiative to give street vendors long-term support. More people will be able to get loans and grow their businesses and avail its benefits.
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