New Delhi, Aug 27 (UNI) The union Cabinet, chaired by Prime Minister Narendra Modi, today approved the extension and restructuring of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme, extending the lending period to March 31, 2030 with more loan facility.
Launched in 2020, the scheme, with a total outlay of Rs 7,332 crore, aims to benefit 1.15 crore street vendors, including 50 lakh new beneficiaries, said a government statement here.
Key highlights of the restructured scheme include an increase in loan amounts.
The first tranche loans have been raised from Rs 10,000 to Rs 15,000, the second tranche from Rs 20,000 to Rs 25,000, while the third tranche remains at Rs 50,000. A new feature is the introduction of a UPI-linked RuPay Credit Card for beneficiaries who have repaid their second loan, providing immediate credit access for business or personal needs.
Additionally, digital cashback incentives up to Rs 1,600 will encourage retail and wholesale digital transactions, said the statement.
The implementation will be jointly overseen by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS). DFS will facilitate access to loans and credit cards through banks and financial institutions.
The scheme’s coverage is expanded beyond statutory towns to include census towns and peri-urban areas in a phased manner.
Capacity building remains a crucial component, focusing on entrepreneurship, financial literacy, digital skills, and marketing, with standard hygiene and food safety training for street food vendors in partnership with FSSAI.
Further, the ‘SVANidhi se Samriddhi’ initiative will be strengthened through monthly Lok Kalyan Melas to ensure beneficiaries and their families receive benefits from various government schemes in a comprehensive manner.
The scheme which was launched in 2020 to support street vendors affected by the Covid-19 pandemic has now evolved beyond financial aid, providing formal recognition and empowerment to street vendors as vital contributors to the economy.
As of July 30, 2025, over 96 lakh loans amounting to Rs 13,797 crore have been disbursed to more than 68 lakh vendors. Nearly 47 lakh beneficiaries are digitally active, conducting over 557 crore transactions worth Rs 6.09 lakh crore, with total cashback rewards of Rs 241 crore.
Under ‘SVANidhi se Samriddhi,’ 46 lakh beneficiaries across 3,564 Urban Local Bodies have been profiled, enabling over 1.38 crore scheme sanctions, as per the statement.
The scheme’s performance has earned national accolades, including the Prime Minister’s Award for Excellence in Public Administration (2023) for Innovation and the Silver Award for Excellence in Government Process Re-engineering for Digital Transformation (2022), it noted.
