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PM SVANidhi (Prime Minister Street Vendor’s AtmaNirbhar Nidhi) is a central sector micro-credit scheme to provide affordable working capital loans to street vendors affected by the COVID-19 pandemic.
What is the PM SVANidhi scheme launch date?
PM SVANidhi was launched on June 1, 2020, by the Ministry of Housing and Urban Affairs (MoHUA).
Who is eligible for the PM SVANidhi Scheme?
Street vendors in urban and rural areas engaged in vending before March 24, 2020, are eligible.
What is the loan amount under PM SVANidhi?
The scheme offers Rs 10,000, followed by Rs 20,000 and Rs 50,000 based on repayment history.
Is collateral required for the PM SVANidhi loan?
No, the loans are collateral-free, meaning vendors do not need to provide security.
PM SVANidhi, Full Form, Objectives, Key Features
PM SVANidhi scheme was launched by the Ministry of Housing and Urban Affairs (MoHUA) on June 1, 2020. PM SVANidhi scheme empowers street vendors by providing them with affordable loans.
Deeksha Dixit21 Mar, 2025
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The PM SVANidhi Scheme is a government initiative to provide financial assistance to street vendors. It offers collateral-free loans to help small businesses. The initiative was introduced by the Ministry of Housing and Urban Affairs (MoHUA) in June 2020. PM SVANidhi aims to promote financial inclusion and economic stability for urban street vendors.
PM SVANidhi Scheme
PM SVANidhi stands for Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi. It is a central sector micro-credit scheme launched by the Government of India to support street vendors. The scheme provides working capital loans to help vendors restart their businesses after the COVID-19 pandemic.
PM SVANidhi Scheme Details
PM SVANidhi Full Form
Prime Minister Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi)
Launch Date
June 1, 2020
Ministry
Ministry of Housing and Urban Affairs (MoHUA)
Target Beneficiaries
Urban street vendors
Purpose
Restore the Swarozgar, Svavlamban, and Swabhimaan of street vendors.
Loan Amounts
Loans available in amounts of ₹10,000, ₹20,000, and ₹50,000
Total Loans Disbursed
Approximately 96 lakh loans worth ₹13,741 crore have been disbursed as of early 2025.
Tenure of Loan
One year
Interest Subsidy
7% per annum on timely repayments
Cashback Incentive
Up to ₹1,200 per annum/₹ 100 per month for digital transactions.
Eligibility Criteria
Active street vendors in urban areas.
Must possess a Street Vendor Certificate from Urban Local Bodies (ULBs) or a Letter of Recommendation (LoR) for unregistered vendors.
Implementation Partner
Small Industries Development Bank of India (SIDBI).
Additional Support Programs
The scheme includes initiatives like "SVANidhi se Samriddhi" to link beneficiaries with various government welfare schemes
PM SVANidhi Scheme Objectives
The PM SVANidhi Scheme objectives focus on financial empowerment and economic upliftment of street vendors. The scheme ensures that small business owners can sustain themselves and expand their businesses with ease. Key objectives of the scheme are:
Provide financial assistance to street vendors with easy access to credit to restart and expand their businesses.
Promote digital transactions and financial inclusion.
Encourage timely repayments with interest subsidies.
Promote formalization of vendors through credit-linked incentives.
Facilitate socio-economic upliftment of street vendors.
PM SVANidhi Scheme Features
The PM SVANidhi Scheme features make it an accessible and beneficial program for street vendors. The scheme ensures financial inclusion, promotes digital payments, and provides incentives for timely loan repayment. It offers:
Collateral-Free Loans: Vendors can access loans without any security deposit.
Loan amounts: Vendors can access three working capital loans depending on timely repayment
Initial loan: Up to ₹10,000 (12 months)
Second loan: Up to ₹20,000 (up to 18 months)
Third loan: Up to ₹50,000 (up to 36 months)
Eligibility Criteria: Street vendors operating in urban areas before March 24, 2020, with necessary identification and documentation such as Vending / Identity Cards issued by Urban Local Bodies (ULBs), identified in the survey of street vendors, or Letter of Recommendation (LoR) from Urban Local Bodies /TVC.
Incremental Credit: Borrowers who repay on time get larger loan amounts in subsequent cycles.
Interest Subsidy: An interest subsidy of 7% is available for timely repayments.
Cashback Incentives: Vendors can earn cashback up to Rs 1,200 per year on digital transactions.
Affordable Interest Rates: Loans have low interest rates, making repayment easier.
Coverage Across India: The scheme benefits urban and rural street vendors
PM SVANidhi Portal
The PM SVANidhi Portal, ‘https://pmsvanidhi.mohua.gov.in/’ is the online platform where vendors can apply for loans. It is managed by the Ministry of Housing and Urban Affairs (MoHUA) and provides end-to-end solutions for loan applications, tracking, and approvals. It also offers assistance for grievances and queries, ensuring that vendors receive support for the application process.
Significance of PM SVANidhi
The Significance of PM SVANidhi lies in its role in economic recovery and social upliftment. The scheme has helped lakhs of street vendors gain financial independence and improve their livelihoods. As per the portal:
PM SVANidhi is an important scheme that has helped in:
Boosting Local Economies: It helps street vendors restart their businesses post-COVID-19, contributing to the revival of local economies.
Financial Inclusion: The scheme brings street vendors into the formal banking system, enhancing their access to financial services.
Encouraging Self-Reliance: By supporting vendors, the scheme aligns with the Atmanirbhar Bharat Abhiyan, promoting self-reliance among small businesses.
Promoting Digital Transactions: It encourages vendors to adopt digital payment methods, fostering a cashless economy and financial inclusion.
Improving Creditworthiness: The scheme helps vendors build a positive credit history, making it easier for them to access future credit and financial support.
In conclusion, the PM SVANidhi Scheme is a transformative initiative that empowers street vendors with financial aid and business opportunities. By offering collateral-free loans and promoting digital payments, the scheme strengthens small businesses and supports economic growth.
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