PM-SVANidhi
Why it Matters?
The Cabinet extended PM SVANidhi till March 31, 2030, raising loan tranches (₹15,000, ₹25,000, ₹50,000) and introducing UPI-linked RuPay Credit Cards with cashback incentives. Coverage expands to census towns and peri-urban areas.
What You Should Know?
PM SVANidhi was launched on 1 June 2020 by the Ministry of Housing and Urban Affairs.
It provides collateral-free loans to street vendors for working capital.
Loan tranches are ₹15,000, ₹25,000, and ₹50,000.
Beneficiaries get a 7% interest subsidy on timely repayment.
The scheme offers digital incentives with cashback up to ₹1,600.
A RuPay credit card linked to UPI is provided after repayment of the second loan.
PM SVANidhi has received the PM Award 2023 and the Silver Award 2022 for excellence.
Standard hygiene and food safety training would be conducted for street food vendors, in partnership with FSSAI.
In order to ensure holistic welfare & development of the street vendors and their families, the ‘SVANidhi se Samriddhi’ component will be further strengthened, through monthly Lok Kalyan Melas.