The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was introduced to provide affordable working-capital support to street vendors whose businesses were affected during the COVID-19 pandemic. Launched on June 1, 2020, the scheme provides collateral-free loans to eligible street vendors to help them restart and expand their businesses.
The scheme was restructured in August 2025, with higher loan amounts in the first two tranches and an extension of the lending period until March 31, 2030. The restructured programme has a total outlay of ₹7,332 crore and aims to benefit 1.15 crore street vendors, including 50 lakh new beneficiaries.
How Much Loan Is Available Under PM SVANidhi?
Under the current structure, eligible vendors can access loans through three progressive tranches. The first loan is available for up to ₹15,000, followed by a second loan of up to ₹25,000. Vendors who meet the applicable repayment conditions can subsequently access a third loan of up to ₹50,000.
The loans are collateral-free working-capital loans. The scheme also provides interest subsidy and credit-guarantee support. Eligible vendors who have successfully repaid the second loan can also receive a UPI-linked RuPay credit card with a credit limit of up to ₹30,000.
Who Can Apply for PM SVANidhi?
The scheme is designed for street vendors and hawkers involved in selling goods or providing services in urban areas. This includes vendors selling vegetables, fruits, ready-to-eat food and other everyday goods.
Service providers such as barbers and cobblers can also fall within the street-vendor category covered by the scheme. The government’s definition includes people selling goods or offering services from streets, footpaths, pavements, temporary structures or while moving from place to place.
The scheme’s coverage is also being expanded beyond statutory towns to census towns and peri-urban areas in a graded manner under the restructured programme.
How to Apply for PM SVANidhi?
PM SVANidhi applications are processed through the scheme’s lending and implementation system involving banks and other financial institutions. Vendors can use the official PM SVANidhi portal to access scheme-related services and application information.
Applicants need to provide the required identification, banking and vending-related information as applicable. Documents and details may include Aadhaar and bank account information, along with proof or recognition of vending activity as required under the scheme.
After the application is submitted and processed, the selected lending institution completes the required verification before sanctioning and disbursing the loan.
PM SVANidhi Scheme Benefits
Apart from providing collateral-free credit, PM SVANidhi also encourages digital payments through cashback incentives and supports financial inclusion among street vendors. The restructured scheme includes incentives for retail and wholesale digital transactions.
The government has extended the lending period up to March 31, 2030. The scheme aims to bring more street vendors into the formal credit system while providing them with opportunities to access larger loans as they build a repayment record.