There is a groundbreaking news for all the streets vendors that the “PM SVANidhi Scheme” is set to be revamped. Under this scheme government offers enhanced loans from banks and UPI-linked credit cards with a limit of Rs 30,000. Union Finance Minister Nirmala Sitharaman declared this during the budget presentation, she also point out its success in benefiting over 68 lakh vendors in his speech. By offering this scheme government aims to support street vendors by providing accessible financial assistance to them. If you’re an Indian and street vendor by profession and wish to know more about this scheme so keep reading this article for complete information about the PM-SVAnidhi Scheme 2025.
About PM SVANidhi Scheme
The PM SVANidhi Scheme, launched by the Government of India in June 2020, aims to provide financial support to street vendors whose livelihoods have been adversely affected by the COVID-19 pandemic. It offers affordable working capital loans of up to ₹30,000 to help vendors resume their businesses, Union Finance Minister Nirmala Sitharaman declared this during the budget presentation of this year, she also point out its success in benefiting over 68 lakh vendors in his speech. By facilitating easy access to credit and promoting self-sufficiency, the PM SVANidhi Scheme seeks to empower street vendors and enhance their livelihoods.
Key Highlights of PM SVANidhi Scheme
| Name of Scheme | PM SVANidhi Scheme. |
| Offered By | Union Finance Minister of India. |
| Year | 2025-26 |
| Objective | To support street vendors by providing financial assistance |
| Total Vendors Benefitted | 68 lakhs. |
| UPI- Linked Credit Limit | Rs. 30,000 |
| Target Beneficiaries | Indian Street Vendors. |
| Mode of Application | Online |
| Official website | https://pmsvanidhi.mohua.gov.in/ |
PM SVANidhi Scheme New Update
- Yesterday, Nirmala Sitharama announced budget of this year for the street vendors and highlights the it’s success of benefiting over 68 lakh.
Objective of PM SVANidhi Scheme
The primary objective of the PM SVANidhi Scheme is to provide financial support to street vendors who have been adversely affected by the COVID-19 pandemic, enabling them to resume their businesses and regain their livelihoods. The scheme aims to facilitate easy access to affordable working capital loans, which can help vendors cover their operational costs and invest in their businesses. By promoting digital transactions, the scheme also seeks to modernize the street vending sector and encourage financial inclusion. Ultimately, the PM SVANidhi Scheme strives to empower street vendors, reduce their vulnerabilities, and contribute to their socio-economic upliftment.
UPI Linked Credit Cards Under PM Svanidhi
- Under PM-SVAnidhi Scheme Union Finance Minister declared that government offer enhanced loans from banks and UPI-linked credit cards with a limit of Rs 30,000.
Also Read: PM SVANidhi Login
Eligibility Criteria
To be eligible for PM-SVAnidhi Scheme, applicant must have to meet the following eligibility criteria’s these are as mentioned below
- Applicant must be a permanent resident of India
- Applicant must be a street vendor by profession.
- Street vendors in possession of Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs)
- The vendors, who have been identified in the survey but have not been issued Certificate of Vending/Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month
- Street Vendors, left out of the ULBled identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB/Town Vending Committee (TVC)
- The vendors of surrounding development/peri-urban/rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB/TVC.
New Vs Previous Benefits Under SVANidhi Scheme
The comparison between the old and new benefits of the SVANidhi scheme is as follows:
| New Benefits:- | Old Benefits: |
| Small Cashback Amount: Under this government offers enhanced loans from banks and UPI-linked credit cards with a limit of Rs 30,000 with a aim of better outreach and support. | Loan Amount: Initially, the scheme provided loans of up to ₹10,000 without focusing on digital transactions. |
| Focus on Digital Transactions: Vendors are encouraged to adopt cashless payment methods, which enhances financial inclusion and transparency. | Limited Information: There was less awareness among street vendors about the benefits and processes of the scheme, leading to lower participation. |
| Interest Subsidy: Under this government offers total interest subsidy of 7% for timely repayments, making loans more affordable for vendors. | Lack of Interest Subsidy: The provisions for interest subsidies for timely loan repayment were not clearly defined. |
These changes have been made to enhance the effectiveness of the SVANidhi scheme and better support street vendors.
Required Documents
- Aadhar Card
- Bank Details
- Resident Proof
- Ration Card
- Street Vendor Proof
- Letter of Recommendation
- Passport Sized Photograph
- Phone Number
Number of Beneficiaries
- As yet a total of 68 lakhs street vendors has benefited by the government under PM-SVAnidhi Scheme.
Salient Features
- Budget: Union Finance Minister announced budget of this year for the street vendors and highlights the it’s success of benefiting over 68 lakh.
- Total Beneficiaries: Till now a total of 68 lakhs street vendors receive financial benefits from PM-SVAnidhi.
- Interest Subsidy: Vendors who repay their loans on time are eligible for interest subsidies, reducing the overall cost of borrowing.
- Promotion of Digital Payments: Encourages the use of cashless transactions to modernize the vending sector and enhance financial inclusion.
- Target Beneficiaries: This scheme is only dedicated to the street vendors of India who are dangerously affected by COVID-19 pandemic.
- Economic Empowerment: Focuses on improving the livelihoods and financial stability of street vendors, contributing to their socio-economic upliftment.
- Wider Inclusivity: The scheme is now focusing more on inclusivity, actively involving a larger number of street vendors.
How to PM SVANidhi Scheme Benefits
To get benefits of PM SVANidhi Scheme, applicant must have to follow up these steps
Step 1: Firstly, applicant needs to visit the official PM SVANidhi website
Step 2: Once the applicant reaches the home page of the official website now needs to click on Apply Online option
Step 3: A new page will open on the screen now applicant needs to fill all the asked details carefully
Step 4: At last click on Submit option
In this way applicant can easily fill their application form online.
Helpline Number
- Ph: 93217 02101
- Scheme related queries: querysvs[at]cgtmse[dot]in
FAQs
Q. Who launched this PM SVANidhi Scheme 2025?
Union Finance Minister of India launched PM SVANidhi Scheme.
Q. How can we apply for the PM SVANidhi Scheme Online?
By visiting the official website you can easily apply for the PM SVANidhi Scheme Online.
Q. As yet how many street vendors gets benefitted under the PM SVANidhi Scheme?
As yet a total of 68 lakhs street vendors has benefited by the government under PM-SVAnidhi Scheme.
Q. Is this PM SVANidhi Scheme is only available for street vendors of India?
Yes, this PM SVANidhi Scheme is only available for street vendors of India.