Context:

• The PM SVANidhi Scheme, launched by the Ministry of Housing and Urban Affairs on 1 June 2020, completed six years on 1 June 2026.

PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi):

• Launch Date: 1 June 2020, during the COVID-19 pandemic to revive the livelihoods of street vendors.
• Type of Scheme: Central Sector Scheme.
• Nodal Ministries: The scheme is now
• jointly implemented by the Ministry of Housing and Urban Affairs (MoHUA) and the Department of Financial Services (DFS).
• Technical Partner: SIDBI (Small Industries Development Bank of India) serves as the technical partner for implementation.
• Integration with 8 Major Schemes: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jan Dhan Yojana (PMJDY), Registration under Building and Other Construction Workers (BoCW), PM Shram Yogi Maandhan Yojana, One Nation One Ration Card (ONORC), Janani Suraksha Yojana, and Pradhan Mantri Matru Vandana Yojana (PMMVY).

Key Features:

• Interest Subsidy: Beneficiaries receive a 7% annual interest subsidy on timely or early repayment of loans.
• Digital Incentives: Street vendors can earn attractive cashback on retail and wholesale digital transactions.
• Credit Expansion: Eligible vendors who successfully repay their second loan installment can obtain a UPI-enabled RuPay Credit Card with a limit of up to ₹30,000.
• Extended Timeline: The lending period of the scheme has been extended till March 2030, with the objective of benefiting a total of 1.15 crore street vendors, including 50 lakh new beneficiaries.
• Restructured in 2025: The scheme was revamped and its lending period was extended from 2024 to 31 March 2030.
• Working Capital Loans: Collateral-free loans are provided in successive installments of ₹15,000, ₹25,000, and ₹50,000.

Revised Loan Structure:

First Installment:

• Previous Loan Amount: ₹10,000
• Revised Loan Amount: Up to ₹15,000
• Repayment Period: 12 months

Second Installment:

• Previous Loan Amount: ₹20,000
• Revised Loan Amount: Up to ₹25,000
• Repayment Period: 18 months

Third Installment:

• Previous Loan Amount: ₹50,000
• Revised Loan Amount: ₹50,000 (No change)
• Repayment Period: 36 months
• Since the launch of the scheme, more than 1.12 crore loans have been sanctioned.

Major Achievements:

• Credit Support: Loan facilities have been extended to nearly 1 crore applicants, with more than ₹17,800 crore disbursed as collateral-free loans.
• Large Beneficiary Base: More than 75.5 lakh street vendors have been empowered by linking them to formal financial institutions. Beneficiaries have recorded an average annual income increase of 20%.
• Women Empowerment: A total of 34.81 lakh women street vendors have benefited through targeted financial assistance.
• Digital Inclusion: More than 55 lakh street vendors have been connected to digital platforms, promoting cashless transactions.
• Award Recognition: The scheme received the “Prime Minister’s Award for Excellence in Public Administration 2023” in the Innovation Category (Central Level).