New Delhi: The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme has been expanded beyond 31.12.2024. The Union Cabinet headed by Prime Minister Narendra Modi gave the green signal to the proposal. SVANidhi) Scheme has a total outlay of Rs 7,332 crore. The restructuring is aimed at providing benefits to 1.15 crore people, including 50 lakh new beneficiaries.

The Union Ministry of Housing & Urban Affairs (MoHUA) and Department of Financial Services (DFS), will be jointly responsible for the successful implementation of the scheme. The DFS has been entrusted with task of facilitating access to loan/ credit cards through banks/financial institution and their ground level functionaries.

Key features of restructured PM SVANidhi scheme

• Beneficiaries will be eligible to receive enhanced loan amount across the first & second tranche.
• UPI-linked RuPay Credit Card facility will be made available for beneficiaries who have repaid the second loan. They will also be eligible for digital cashback incentives for retail & wholesale transactions.
• The government has planned to expand the coverage of the scheme beyond statutory towns to census towns, peri-urban areas etc. in a graded manner.
• As per the new loan structure, the first tranche loans have been increased up to Rs 15,000, while earlier it was Rs 10,000. The second tranche loans increased up to Rs 25,000 (from Rs 20,000), while the third tranche remains unchanged at Rs 50,000.
• The UPI-linked RUPAY Credit Card would benefit street vendors to get immediate access to loan in order to meet any emergent business and personal requirements. The street vendors can avail cashback incentives upto Rs 1,600 on making retail & wholesale transactions.

The Modi Government launched the PM SVANidhi Scheme on June 1, 2020 to support street vendors who faced unprecedented hardships during the COVID-19 pandemic.

“As of July 30, 2025, over 96 lakh loans amounting to Rs 13,797 crore have been disbursed to more than 68 lakh street vendors. Nearly 47 lakh digitally active beneficiaries have conducted over 557 crore digital transactions worth ₹6.09 lakh crore, earning a total cashback of ₹241 crore. Under the ‘SVANidhi se Samriddhi’ initiative, 46 lakh beneficiaries across 3,564 Urban Local Bodies (ULBs) have been profiled, leading to over 1.38 crore scheme sanctions,” the press release stated.