PM SVANidhi Scheme- In 2020, the Indian government took an important move to help street vendors affected by lockdowns. The Ministry of Housing & Urban Affairs launched the PM SVANidhi Yojana (Prime Minister Street Vendor’s AtmaNirbhar Nidhi Scheme), a central sector initiative to support small companies.
The scheme’s principal goal is to provide financial help, allowing merchants across India to continue operations and contribute to the economy’s revival. This specialized micro-credit facility is intended to provide short-term loans to street vendors, allowing them to reinvigorate their enterprises with necessary operational capital.
PM SVANidhi Scheme 2025
Under the PM SVANidhi Scheme, qualifying vendors are provided a first loan of Rs 10000 for a one-year period with no collateral required. This realistic strategy allows for the immediate restart of corporate operations while also laying the groundwork for future growth.
Vendors who carefully repay the loan within the specified time frame are rewarded with the option to borrow larger sums, which gradually increase to Rs 20000 and eventually Rs 50000. The government provides a 7% APR subsidy on these loans to further reduce the financial strain, making it an appealing and accessible choice for street vendors around the country.
PM SVANidhi Scheme Overviews
| Nodal Agency | Ministry of Housing and Urban Affairs, Govt of India |
| Scheme Name | Prime Minister Street Vendor’s AtmaNirbhar Nidhi |
| Loan Amount | Up to Rs 50000 |
| Subsidy Rate | Interest subsidy of 7% |
| Cashback Facility | Available on Digital Transactions |
| Category | Govt Schemes |
| Official Website | pmsvanidhi.mohua.gov.in |
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About PM SVANidhi Scheme
PM SVANidhi is a central-sector microcredit plan introduced by the Ministry of Housing and Urban Affairs (MoHUA) on June 1, 2020, to provide handholding support to street sellers. The initiative offers a working capital collateral-free loan of ₹10,000, followed by loans of ₹20,000 and ₹50,000 with a 7% interest subsidy. The project aims to increase India’s digital footprint by encouraging street vendors to conduct digital transactions. Street vendors might receive a monthly payback of up to ₹100 to promote digital transactions.
Objects Of PM SVANidhi Scheme 2025
The initiative seeks to legitimize street sellers and provide new chances for this sector to advance up the economic ladder. Street vendors are an important part of the urban informal economy because they ensure that goods and services are available at inexpensive prices right at the doorsteps of city dwellers. In various regions and settings, they are referred to as vendors, hawkers, thelewala, rehriwala, theliphadwala, and so on. They supply vegetables, fruits, ready-to-eat street food, tea, pakodas, bread, eggs, textiles, clothes, footwear, artisan products, books/stationery, and other items. Barbershops, cobblers, pan shops, and laundry services are among the services offered.
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Prime Minister SVANidhi Scheme Benefits & Eligibility
Benefits
The initiative provides a variety of financial rewards aimed at increasing the economic stability of street sellers. It offers short-term working capital loans ranging from Rs 10000 to Rs 50000 that require no security or collateral. Additionally, suppliers receive a 7% interest subsidy incentive for repayments made on or before their due dates. Another element is the offer of monthly cashback credits for vendors who do digital transactions, which encourages a shift toward a more digital economy.
Eligibility Criteria
To be qualified for this scheme, the applicant must be a street vendor with either a vending certificate, an identification card provided by local civic authorities, or a letter of reference from the Town Vending Committee. It broadens the pool of applicants, ensuring that a diverse range of street vendors have the opportunity to receive financial assistance and incentives that can considerably improve their companies and livelihood.
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Documents Need for Pradhanmantri SVANidhi
Individuals must supply their Survey Reference Number along with one form of street vending verification, such as a Vendor ID, Vending Certificate, or a Letter of Recommendation from the Town Vending Committee (TVC). Furthermore, a valid Aadhar card and a cellphone number linked to it are necessary. Applicants must produce one of the following documents for KYC: an Aadhar Card, Voter ID, Driver’s License, MNREGA Card, or PAN Card.
Step to Apply for SVANidhi Loan Scheme
- To apply, go to the PM SVANidhi portal
- Authenticate using your mobile number, which will be confirmed with an OTP.
- Once logged in, pick your qualification criterion via (a) Vendor Identity Card, (b) Certificate for Vending, or (c) Letter of Recommendation from TVC Fill out the PM SVANidhi Scheme application form and attach all required KYC documents.
- Finish by submitting your application.
- Subsequently, loan institutions will contact you.
- After validating your documentation, the loan money will be transferred into the street vendor’s bank account within 30 days of your application.
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Conclusion
The Ministry of Housing & Urban Affairs created the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) plan to empower street vendors by providing loans and promoting their overall growth and economic upliftment. The plan aims to provide collateral-free working capital loans of up to INR10,000/- for a one-year period to approximately 50 lakh street vendors in urban and peri-urban/rural regions to enable them restart their operations.
PM SVANidhi Scheme FAQ’S
What Is PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
The PM Street Vendor's AtmaNirbhar Nidhi plan is a government initiative designed to provide financial help to street sellers afflicted by the COVID-19 outbreak.
Who Is Eligible To Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
Street sellers that have been in business for at least a year prior to March 24, 2020 and have a valid ID can apply for the scheme.
What Is The Maximum Loan Amount That Can Be Availed Under This Scheme?
The PM Street Vendors AtmaNirbhar Nidhi plan provides street vendors with a working capital loan of up to Rs. 10,000.
What Is The Benefit Of Availing Of The Loan Under This Scheme?
The loan offered under this scheme can be utilized to relaunch or develop the street selling company, providing the seller with financial security.
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