PMSVANidhi Scheme

Why in News:

Cabinet approves restructuring & extension of lending period beyond 31.12.2024 of PM Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) Scheme (Extension of lending period: From 31.12.2024 to 31.03.2030)

About PMSVANidhi Scheme:

• Launched: 1st June 2020, during COVID-19, to support street vendors.
• Nodal Ministry: Ministry of Housing & Urban Affairs (MoHUA).
• Nature: Central Sector Scheme (fully funded by Government of India).
• Objective:
  – Provide affordable collateral-free working capital loans to street vendors
  – Promote digital transactions
  – Ensure their socio-economic upliftment
• Eligibility:
• The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.
  – Beneficiaries from Meghalaya, which has its own State Street Vendors Act may, however, participate.
• The Scheme is available to all street vendors engaged in vending in urban areas (Earlier the Scheme was available to all street vendors engaged in vending on or before March 24, 2020).

• Lending Agencies:
  Microfinance Institutions, Non-Banking Financial Company, Self Help Groups have been allowed due to their ground level presence and proximity to the urban poor including the street vendors.

• Enhanced Loan Structure
  1st tranche loan: Raised to ₹15,000 (earlier ₹10,000).
  2nd tranche loan: Raised to ₹25,000 (earlier ₹20,000).
  3rd tranche loan: Unchanged at ₹50,000.

• Achievements till July 30, 2025
  – 96 lakh loans disbursed = ₹13,797 crore.
  – 68 lakh beneficiaries, 47 lakh digitally active.
  – 557 crore digital transactions worth ₹6.09 lakh crore.
  – Cashback earned: ₹241 crore.
  – 46 lakh beneficiaries profiled under SVANidhi se Samriddhi in 3,564 ULBs → 1.38 crore scheme sanctions.