The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the “Restructuring and extension of the lending period beyond 31.12.2024 of Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme”.
The lending period under PM SVANidhi has now been extended until March 31, 2030. The total outlay for the scheme is Rs ,332 crore. The restructured scheme aims to benefit 1.15 crore beneficiaries including 50 lakh new beneficiaries, said a Cabinet release.
“Implementation of the scheme would be the joint responsibility of Ministry of Housing & Urban Affairs (MoHUA) and Department of Financial Services (DFS), with DFS being responsible for facilitating access to loan/ credit cards through banks/financial institution and their ground level functionaries,” it added.
PM SVANidhi Scheme Features
The key features of the restructured scheme include enhanced loan amount across first & second tranche, provision of UPI-linked RuPay Credit Card for beneficiaries who have repaid the second loan, and digital cashback incentives for retail & wholesale transactions. The scheme’s coverage is being expanded beyond statutory towns to census towns, peri-urban areas etc. in graded manner.
PM SVANidhi Scheme Loan Structure
The enhanced loan structure includes first tranche loans increased up to Rs 15,000 (from Rs 10,000) and second tranche loans increased up to Rs 25,000 (from Rs 20,000), while the third tranche remains unchanged at Rs 50,000.
The introduction of UPI-linked RUPAY Credit Card would provide immediate access of credit to the street vendors in order to meet any emergent business and personal requirements, Cabinet note said.
Further, in order to give boost to digital adoption, the street vendors can avail cashback incentives upto Rs 1,600 on making retail & wholesale transactions.
The scheme also focuses on building the capacity of the street vendors with a focus on entrepreneurship, financial literacy, digital skills, and marketing through convergence. Standard hygiene and food safety trainings would be conducted for street food vendors, in partnership with FSSAI.
PM SVANidhi Scheme To Support Street Vendor
The Government had initially launched PM SVANidhi Scheme on 1st June 2020 to support street vendors who faced unprecedented hardships during the COVID-19 pandemic. However, since the inception of the scheme it has proved to be more than financial support for street vendors and has given them a sense of identity & formal recognition for their contribution to the economy.
The celebrated PM SVANidhi scheme has already achieved significant milestones. As of July 30, 2025, over 96 lakh loans amounting to Rs 13,797 crore have been disbursed to more than 68 lakh street vendors. Nearly 47 lakh digitally active beneficiaries have conducted over 557 crore digital transactions worth Rs 6.09 lakh crore, earning a total cashback of Rs 241 crore. Under the ‘SVANidhi se Samriddhi’ initiative, 46 lakh beneficiaries across 3,564 Urban Local Bodies (ULBs) have been profiled, leading to over 1.38 crore scheme sanctions.
