PM SVANidhi has grown into a major national initiative for India’s street vendors, helping them move from survival to self-reliance through collateral-free loans, digital adoption, and wider social security coverage. Launched in June 2020 as the Prime Minister Street Vendor’s AtmaNirbhar Nidhi, the scheme was designed to support vendors who often struggled to access formal credit and were forced to rely on expensive informal borrowing. It aims to promote “Swarozgar, Svavlamban and Swabhimaan” among street vendors and has become far more than a loan programme, evolving into a platform for financial empowerment and inclusion in the informal urban economy.
Since its launch, more than 75.5 lakh beneficiaries have received over 1.12 crore loans worth more than ₹17,800 crore. More than 55 lakh beneficiaries have been digitally onboarded, completing over 841 crore digital transactions worth nearly ₹8.96 lakh crore. The scheme has also delivered close to ₹800 crore in cashback incentives and interest subsidies. In light of its results, PM SVANidhi has been extended until March 2030.
The scheme offers collateral-free working capital loans in three progressive tranches of ₹15,000, ₹25,000 and ₹50,000, supported by interest subsidy and credit guarantee. Vendors who repay the second tranche on time can access UPI-linked RuPay Credit Cards with a limit of up to ₹30,000. To promote digital literacy and cashless payments, the scheme provides cashback incentives of up to ₹1,600 on retail and wholesale digital transactions. Through the SVANidhi se Samriddhi component, beneficiaries and their families are profiled and linked with eight central welfare schemes to strengthen social protection. Training in financial literacy, digital literacy and food safety is also provided in collaboration with the Food Safety and Standards Authority of India.
Impact assessments conducted in 2023 and 2025 showed strong results. Nearly 95% of beneficiaries accessed formal institutional credit for the first time through PM SVANidhi. Around 30% went on to obtain additional credit beyond the scheme, reflecting improved financial credibility. Average annual incomes among beneficiaries rose by nearly 20%. The scheme has also supported household welfare, helping families improve housing stability, nutrition, healthcare access and education.
The initiative has shown strong inclusion outcomes as well. Nearly 46% of beneficiaries are women, while about 70% belong to marginalised communities. These figures highlight the scheme’s reach among vulnerable sections of urban India.
Several beneficiary stories illustrate its impact. Babita Sharma in Ghaziabad expanded her puja-item business after receiving loans and purchasing more stock and a vending cart. Santhi R in Thiruvananthapuram moved from high-interest microfinance borrowing to formal credit, expanded into dry fish packing and shop supplies, and received a SVANidhi Credit Card in January 2026. Sewali Kalita in Guwahati used successive loans to grow from a small pan stall into a thriving vegetable business and later opened a dedicated stall. Yograj Mali in Gandhinagar revived his street food business, adopted digital payments and accessed additional social security schemes.
Together, these stories show how PM SVANidhi is reshaping the lives of street vendors across India by strengthening small businesses, improving incomes, promoting digital finance and expanding access to welfare support.
