Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)

The PM SVANidhi Scheme is a government initiative launched as a part of the Atmanirbhar Bharat Abhiyan to provide affordable working capital loans to street vendors affected by the Covid-19 pandemic. The scheme aims to provide financial support to street vendors to resume their livelihoods and help them become self-reliant.

The government aims to provide benefits under the PM SVANidhi Scheme to a total of 42 lakh street vendors by December 2024. The scheme is expected to provide a significant boost to the street vending sector in India and help street vendors overcome the economic challenges posed by the Covid-19 pandemic.

Beneficiary:

Street Vendors

Benefits:

The scheme provides collateral-free working capital loans up to Rs. 10,000 for a 1-year tenure. Street vendors can get an interest subsidy at 7% per annum. Incentives are given to those who make timely repayment of loans. Digital payment channels are encouraged to promote cashless transactions. The scheme provides financial support to street vendors who have been engaged in vending for a period of one year or more.