The Prime Minister Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) scheme completes six years on 1 June 2026, marking half a decade of collateral-free credit support to street vendors whose livelihoods were devastated by the Covid-19 pandemic. Official data show the scheme has disbursed more than 1.12 crore loans and facilitated 841 crore digital transactions worth nearly ₹8.96 lakh crore since its launch.

Six Years of Impact: Key Numbers

According to an official statement, more than 75.5 lakh beneficiaries have availed over 1.12 crore loans amounting to more than ₹17,800 crore. Over 55 lakh beneficiaries have been onboarded digitally under the scheme. Beneficiaries have also received nearly ₹800 crore through digital cashback incentives and interest subsidies, providing an additional financial cushion beyond the loan itself.

How the Scheme Works

PM SVANidhi was launched by Prime Minister Narendra Modi on 1 June 2020 to provide collateral-free working capital to street vendors whose businesses had been forced to a halt by pandemic-related restrictions. The scheme operates in three loan tranches: a first loan of ₹10,000, a second of ₹20,000 upon repayment of the first, and a third of ₹50,000 upon settlement of the second. The graduated structure is designed to build creditworthiness progressively within a segment that has historically been excluded from formal banking.

Social Inclusion and Gender Gains

The scheme's reach extends beyond economics. Nearly 46 per cent of beneficiaries are women, reflecting what officials describe as strong gender inclusion. Around 70 per cent of beneficiaries belong to marginalised communities, making PM SVANidhi one of the more targeted urban poverty interventions of the current administration. Officials note that improved incomes have supported greater housing stability and better access to food, healthcare, and education among recipient households.

Extension to 2030 and Expanded Outreach

The Modi government last year approved a restructuring and extension of the scheme's lending period through 2030. The extended programme carries a total outlay of ₹7,332 crore and is expected to benefit 1.15 crore people, including 50 lakh new beneficiaries. This comes amid a broader push to formalise the unorganised sector and integrate it into the digital economy — a goal the scheme's transaction data suggest is gaining traction.

What the Numbers Reveal

The 841 crore digital transactions figure is particularly striking for a sector that was almost entirely cash-dependent before 2020. Notably, the scheme has doubled as a financial literacy vehicle, pulling millions of vendors into UPI and digital payment ecosystems for the first time. With the extension in place and fresh beneficiaries set to be enrolled, the scheme's second chapter will test whether early momentum can be sustained at scale through 2030.