The lending period has now been extended until March 31, 2030, from 31.12.2024, and the restructured scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.
New Features
- Enhanced Loan Limits:
- 1st tranche: ₹15,000 (↑ from ₹10,000)
- 2nd tranche: ₹25,000 (↑ from ₹20,000)
- 3rd tranche: Unchanged at ₹50,000
- UPI-linked RuPay Credit Card: For vendors after repaying the 2nd loan; ensures quick access to emergency credit.
- Digital Cashback Incentives: Up to ₹1,600 for retail/wholesale UPI transactions.
- Capacity Building: Financial literacy, entrepreneurship, digital skills, and marketing support, hygiene & safety training via FSSAI partnership.
About PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi)
- Type: Central Sector Scheme
- Ministry: Ministry of Housing and Urban Affairs.
- Implementation:
- Ministry of Housing & Urban Affairs
- Department of Financial Services (DFS) (loan/credit card facilitation through banks/fin. institutions).
- Objective: Provide working capital loans, promote financial inclusion, digital payments, and identity/recognition to street vendors.
- Targeted beneficiaries: Street vendors/ hawkers vending in urban areas, as on or before March 24, 2020.