The scheme offers collateral-free loans in three progressive tranches of ₹15,000, ₹25,000 and ₹50,000, along with interest subsidies and credit guarantee support.
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More than 1.12 crore collateral-free loans worth over ₹17,800 crore have been disbursed under the PM SVANidhi scheme since its launch in June 2020, emerging as a key driver of financial inclusion and economic empowerment for street vendors, the Ministry of Housing and Urban Affairs said.As the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme completes six years on Monday, the ministry said that the scheme has benefited over 75.5 lakh street vendors across urban India, helping them access formal credit, adopt digital payments and avail social security benefits.Launched in the aftermath of the COVID-19 pandemic, PM SVANidhi was designed to provide affordable working capital loans to street vendors who traditionally relied on informal sources of credit charging high interest rates, the ministry said in a statement.The scheme offers collateral-free loans in three progressive tranches of ₹15,000, ₹25,000 and ₹50,000, along with interest subsidies and credit guarantee support.Beneficiaries who successfully repay their loans are also eligible for UPI-linked RuPay credit cards with limits of up to ₹30,000.The ministry said digital inclusion has been a major focus of the scheme, with more than 55 lakh beneficiaries onboarded onto digital platforms. These beneficiaries have collectively carried out over 841 crore digital transactions worth nearly ₹8.96 lakh crore.Street vendors have also received around ₹800 crore through cashback incentives and interest subsidies, it said.The government said the scheme has significantly expanded access to institutional finance, with nearly 95 per cent of beneficiaries obtaining formal credit for the first time.Around 30 per cent subsequently accessed additional loans beyond PM SVANidhi, reflecting improved creditworthiness, the statement stated.Independent impact assessments conducted in 2023 and 2025 found that beneficiary incomes increased by nearly 20 per cent annually on average, while gains in housing stability, healthcare, education and nutrition were also recorded.Women account for nearly 46 per cent of beneficiaries, while about 70 per cent belong to marginalised communities, underlining the scheme's inclusive outreach.The government has extended PM SVANidhi till March 2030.Published on May 31, 2026
