Launched in June 2020, PM SVANidhi is a transformative initiative providing street vendors formal credit access to strengthen and expand their livelihoods.
Key Achievements of the Scheme
- Credit Support: Facilitated ~1 crore loans and disbursed ₹17,800 crore+ through collateral-free loans.
- Beneficiary Coverage: Empowered more than 75.5 lakh street vendors by providing access to formal finance.
- The scheme has also recorded a 20% annual increase in average beneficiary incomes.
- Women Empowerment: Benefited 34.81 lakh women street vendors through targeted financial assistance.
- Digital Inclusion: Digitally onboarded 55 lakh+ street vendors, promoting cashless transactions.
- Awards: The scheme has received the Prime Minister’s Award for Excellence in Public Administration (2023) for Innovation (Central Level).
About PM SVANidhi
- Ministry: Ministry of Housing and Urban Affairs.
- Type: Central Sector Scheme.
- Period: June 2020 to 2030.
- It was restructured in 2025 and lending period extended from 2024 to March 31, 2030.
- Outlay: ₹7,332 crore.
- Implementation: Jointly by Ministry of Housing & Urban Affairs (MoHUA) and Department of Financial Services (DFS).
Objective: To address vulnerabilities of street vendors through
