How does the PM SVANidhi scheme plan to support 1.15 crore beneficiaries?
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Synopsis
The restructured PM SVANidhi scheme is set to empower 1.15 crore street vendors, including 50 lakh new beneficiaries, with increased loan amounts and digital incentives. This initiative aims to enhance financial inclusion and promote digital adoption among street vendors across India.
Key Takeaways
- 1.15 crore beneficiaries targeted, including 50 lakh new ones.
- Lending period extended until March 31, 2030.
- Increased loan amounts for first and second tranches.
- Introduction of UPI-linked RuPay Credit Card.
- Cashback incentives for digital transactions.
- Scheme has received national recognition.
New Delhi, Dec 20 (NationPress) The revamped Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) Scheme is set to assist 1.15 crore beneficiaries, which includes 50 lakh new beneficiaries, as stated in an official announcement on Saturday.
The lending duration has been extended to March 31, 2030, with a total financial allocation of Rs 7,332 crore, according to the statement.
On August 27, 2025, the Union Cabinet, under the leadership of Prime Minister Narendra Modi, sanctioned the “Restructuring and extension of the lending duration beyond 31.12.2024 for the PM SVANidhi Scheme”.
Significant features of the restructured scheme include an increased loan amount for the first and second tranches, provision of a UPI-linked RuPay Credit Card for beneficiaries who have promptly repaid the second loan, and digital cashback incentives for retail and wholesale transactions. The scheme's reach is being broadened beyond statutory towns to census towns, peri-urban areas, etc., in a phased approach.
The new loan structure includes first tranche loans raised to Rs 15,000 (from Rs 10,000) and second tranche loans increased to Rs 25,000 (from Rs 20,000), with the third tranche set at Rs 50,000.
The introduction of the UPI-linked RuPay Credit Card will facilitate immediate access to credit for street vendors to address urgent business and personal needs.
Moreover, to encourage digital adoption, street vendors can benefit from cashback on digital transactions: cashback up to Rs 1,200 on regular sales with a ceiling of Rs 100 per month and cashback of Rs 400 on wholesale purchases of Rs 2,000 or more (Rs 20 per transaction with a cap of Rs 100 per quarter).
The scheme has garnered national acclaim, receiving the Prime Minister’s Award for Excellence in Public Administration (2023) for Innovation (Central Level) for its exceptional contribution to enhancing the economy, supporting livelihoods, promoting financial inclusion, and fostering digital empowerment, as well as the Silver Award for Excellence in Government Process Re-engineering for Digital Transformation (2022).
Point of View
I believe the PM SVANidhi scheme represents a crucial step towards empowering street vendors, promoting economic stability, and enhancing financial inclusion. This initiative not only addresses immediate financial needs but also encourages digital innovation among street vendors, aligning with the nation's broader goals of economic recovery and growth.
NationPress
21/12/2025
Frequently Asked Questions
What is the PM SVANidhi scheme?
The PM SVANidhi scheme is a government initiative aimed at providing financial support to street vendors in India to help them sustain their livelihoods and promote digital transactions.
How many beneficiaries will the scheme support?
The restructured scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.
What are the key features of the restructured scheme?
Key features include enhanced loan amounts, provision of UPI-linked RuPay Credit Cards, and cashback incentives for digital transactions.
When is the extended deadline for the lending period?
The lending period has been extended until March 31, 2030.
What awards has the PM SVANidhi scheme received?
The scheme has received the Prime Minister’s Award for Excellence in Public Administration (2023) and the Silver Award for Excellence in Government Process Re-engineering for Digital Transformation (2022).
