PM SVANidhi Yojana: Empowering Street Vendors in India

The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Yojana is a flagship scheme launched by the Government of India to provide financial assistance to street vendors. Introduced on June 1, 2020 , under the AtmaNirbhar Bharat Abhiyan , this initiative aims to support small vendors by offering easy access to working capital loans, helping them recover from the economic impact of the COVID-19 pandemic.

Objectives of PM SVANidhi Yojana

The primary goal of this scheme is to uplift street vendors by providing them with financial aid, ensuring they continue their businesses without financial struggles. The key objectives include:

✅ Providing Affordable Loans – Street vendors can avail of a collateral-free working capital loan of up to ₹50,000 in multiple stages.
✅ Encouraging Digital Transactions – Vendors are encouraged to use digital payments , earning cash-back incentives.
✅ Promoting Financial Inclusion – The scheme aims to integrate street vendors into the formal financial system .
✅ Ensuring Socio-Economic Stability – By providing credit assistance, the scheme helps vendors sustain and grow their businesses.

Eligibility Criteria for PM SVANidhi Yojana

To avail of the benefits under PM SVANidhi , an applicant must meet the following eligibility requirements:

✔️ The applicant must be a street vendor engaged in vending before March 24, 2020.
✔️ They should possess a certificate of vending issued by the local urban body.
✔️ In case of unavailability of the vending certificate, a letter of recommendation from the local authority is required.
✔️ The scheme is available for vendors operating in urban, peri-urban, and rural areas.

Loan Amount & Benefits

Under the PM SVANidhi scheme, street vendors can avail of loans in the following manner: