PM SVANidhi Yojana

Why this scheme matters now

PM SVANidhi Yojana is a Business initiative targeting residents across India. PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) is a special micro-credit facility launched by the Ministry of Housing and Urban Affairs to provide affordable working capital loans to street vendors who were adversely affected by the COVID-19 lockdowns Applications are routed through the official portal, so save the link for reference.

Available across states, yet district offices may still ask for local attestations.

📌 About This Scheme

PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) is a special micro-credit facility launched by the Ministry of Housing and Urban Affairs to provide affordable working capital loans to street vendors who were adversely affected by the COVID-19 lockdowns. Street vendors represent a very important constituent of the urban informal economy and play a vital role in ensuring the availability of goods and services at affordable rates. The scheme initially provides a working capital loan of up to ₹10,000, which is repayable in monthly installments over a year. On timely or early repayment, the vendor becomes eligible for the next tranche of loan with an enhanced limit of ₹20,000 and subsequently ₹50,000. One of the unique features of this scheme is the interest subsidy of 7% per annum, which is credited to the beneficiary's bank account on a quarterly basis. Moreover, the scheme promotes digital transactions by offering cash-back incentives to vendors who accept payments via UPI or other digital modes. There is no penalty for early repayment of the loan. The scheme also aims at the holistic development of vendors through 'SVANidhi se Samriddhi,' which links vendors and their families to various other government welfare schemes like PMJJBY, PMSBY, PMJAY, and more. This data-driven approach helps in creating a formal identity for vendors who were previously outside the banking system. By providing credit without any collateral, PM SVANidhi empowers street vendors to restart their businesses, scale up their operations, and move towards a path of financial sustainability and dignity in the urban landscape.

📄 Required Documents

• ✓Aadhaar Card
• ✓Voter Identity Card
• ✓Certificate of Vending (CoV) / Identity Card issued by ULBs
• ✓Letter of Recommendation (LoR)
• ✓Bank Account

🛠️ How to Apply