New Delhi: As many as 21.86 lakh loans to the tune of Rs 6,294 crore have been disbursed to street vendors under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme in the last 12 months, according to a statement issued by the Ministry of Housing & Urban Affairs.
The restructured phase of the scheme, which provides collateral free working capital loans to urban street vendors, was launched on August 27, 2025. It has covered 10.56 lakh new beneficiaries over the last year. The scheme has been extended up to March 31, 2030, with an enhanced focus on formal credit, digital financial inclusion, social security, capacity building and entrepreneurship. It aims to benefit 1.15 crore street vendors, including 50 lakh new beneficiaries.
To deepen access to formal credit, the government has introduced a UPI linked RuPay Credit Card with a credit limit of up to Rs 30,000 for eligible vendors. So far, 27,077 credit cards have been approved, the statement said.
The introduction of an end to end Digital Lending Platform (DLP) has simplified loan processing, from application and verification to approval and disbursement. A Vendor Migration Module has been developed to enable seamless transfer of letters of recommendation when vendors migrate between urban local bodies and census towns, ensuring continuity of scheme benefits.
The scheme, with its city region approach, is expanding its reach by including census towns, enabling more street vendors to enter the formal credit and livelihood support ecosystem.
PM SVANidhi has evolved beyond credit delivery towards enterprise development and innovation. The ongoing PM SVANidhi Startup Challenge encourages startups and innovators to develop solutions in areas such as market access, digital payments, financial services, logistics and vending infrastructure.
To improve vending infrastructure and livelihoods, 50 Street Food Hubs (SFHs) will be developed across the country, with cities eligible for financial assistance of up to Rs 4 crore per hub, including an additional Rs 25 lakh for notification of vending zones.
To strengthen last mile outreach, Lok Kalyan Melas are being organised to bring street vendors, banks and Urban Local Bodies together and facilitate access to credit, welfare schemes and capacity building programmes. The next round of Lok Kalyan Melas will be organised from September 1 to September 30, 2026, the statement added.
(IANS)
