Bhubaneswar: Under the visionary leadership of Prime Minister Narendra Modi, a nationwide programme for the disbursement of one lakh PM-SVANidhi loans and the launch of Credit Cards for PM-SVANidhi beneficiaries was organised today from Thiruvananthapuram, Kerala. Odisha actively joined this historic national initiative through parallel programmes conducted across Urban Local Bodies in the State.
The event in Bhubaneswar was graced by Housing & Urban Development (H&UD) Minister Krushna Chandra Mahapatra as Chief Guest. The Minister distributed PM-SVANidhi loans and Credit Cards, felicitated three successful PM-SVANidhi beneficiaries—including two women—who have become self-reliant through the scheme, and addressed the gathering, highlighting the transformative impact of PM-SVANidhi on the lives of street vendors.
Speaking on the occasion, the Minister emphasised that street vendors form the backbone of the urban informal economy by ensuring affordable access to goods and services and generating large-scale self-employment. He stated that PM-SVANidhi is a landmark initiative that restores not only livelihoods but also dignity, confidence, and financial inclusion among street vendors.
The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme provides collateral-free working capital loans starting from ₹15,000 and scalable up to ₹25,000 and ₹50,000 based on timely repayment and good credit behaviour. The newly launched PM-SVANidhi Credit Cards will enable beneficiaries to access flexible and revolving credit, thereby strengthening business continuity and financial resilience.
Across Odisha, 1,10,128 PM-SVANidhi loans have already been disbursed through various banking institutions, directly benefiting more than 1.10 lakh street vendor families. This achievement reflects the coordinated efforts of Urban Local Bodies, Town Vending Committees, banks, and field-level functionaries in implementing the scheme effectively.
In line with Government of India guidelines, PM-SVANidhi in Odisha is being implemented through convergence with eight key social welfare and social security schemes across five Ministries/Departments. Under Pradhan Mantri Suraksha Bima Yojana (PMSBY), 12,391 beneficiaries have been enrolled with accidental insurance coverage of ₹2 lakh, while 6,421 beneficiaries are covered under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) with life insurance of ₹2 lakh.
Further, 1,387 zero-balance accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY). Beneficiaries have also been linked with One Nation One Ration Card (ONORC), Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYMY), Building and Other Construction Workers Welfare Board (BoCWWB), and maternal benefit schemes JSY and PMMVY. A special drive is underway to ensure 100% saturation of PMAY benefits among PM-SVANidhi beneficiaries.
The Government of Odisha reiterated its commitment to last-mile delivery, digital onboarding, Aadhaar seeding, and beneficiary awareness to ensure that no eligible street vendor or family member is left out of the social security net.
On the occasion, MLA Babu Singh graced the programme as Guest of Honour. Director, Municipal Administration, Arabinda Dakua highlighted the significance of the programme. Director, SUDA, Rabindra Sahu delivered the welcome address, while Ratnakar Sahu, Additional Commissioner, BMC, proposed the vote of thanks.
PM-SVANidhi, it was reiterated, is a key pillar of inclusive, resilient, and equitable urban growth, ensuring that those who serve the cities are themselves secure, empowered, and respected.
