PM SVANidhi Scheme Extended with Enhanced Loan Support and UPI-linked Credit Access
SDG 1: No Poverty
SDG 8: Decent Work and Economic Growth
Institutions: Ministry of Housing and Urban Affairs, Ministry of Finance
The Union Cabinet has approved the restructuring and extension of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme to March 31, 2030, with an outlay of ₹7,332 crore. The scheme now aims to benefit 1.15 crore beneficiaries, including 50 lakh new entrants. Implementation will be jointly managed by the Ministry of Housing & Urban Affairs and the Department of Financial Services.
Key features include enhanced loan amounts, a UPI-linked RuPay Credit Card for vendors reaching the third tranche, and cashback incentives up to ₹1,600 to strengthen digital transactions. Coverage is being extended beyond statutory towns to census towns and peri-urban areas.
The ‘SVANidhi se Samriddhi’ component will be strengthened to extend welfare schemes through monthly Lok Kalyan Melas, alongside training in financial literacy, digital skills, and food safety for street vendors.
Relevant question for policy stakeholders: How effective are digital tools like UPI-linked RuPay credit cards and cashback incentives, in improving financial inclusion and business resilience among street vendors under PM SVANidhi?
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https://www.pib.gov.in/PressReleasePage.aspx?PRID=2161157