PM SVANidhi scheme
PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Union Ministry of Housing and Urban Affairs on June last year to provide for the holistic upliftment of the street vendors. The scheme seeks to provide collateral-free working capital loans of up to Rs.10,000 to around 50 lakh street vendors.
The scheme, which was launched to help vendors resume their businesses that were halted by the pandemic, will remain effective until March next year. The long-term objective of this scheme is to improve the credit score of street vendors and create a digital record of their socio-economic status so that they can benefit from various central government schemes that might be rolled out later.