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PM SVANidhi provides micro-credit to street vendors who lost their livelihoods during COVID. Now a permanent scheme for street vendor formalisation.
Government benefits · Financial Inclusion
PM SVANidhi: collateral-free ₹50,000 loan for street vendors
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Provisions
PM Street Vendor's AtmaNirbhar Nidhi | MoHUA | SVANidhi portal
Analysis
Three tiers: First loan: ₹10,000. After timely repayment: ₹20,000. After second repayment: ₹50,000. Interest subsidy of 7%, credited quarterly to bank account as cashback. Digital transactions incentivised with ₹1,200/year cashback. Eligibility: Street vendors operating in urban areas. Must have vendor certificate or letter of recommendation from urban local body. Includes hawkers, thela walas, cart vendors, cycle cart vendors. How to apply: pmsvanidhi.mohua.gov.in or through microfinance institution (SEWA Bank, Jagdhan, etc.) or common service centre. No collateral. No guarantor. PAN not mandatory.
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