PM SVANidhi at 6: 75 lakh vendors, ₹17,800 crore in loans, scheme extended to 2030
Synopsis
Six years in, PM SVANidhi has pushed over 75 lakh street vendors into formal credit for the first time, disbursed ₹17,800 crore in loans, and recorded 841 crore digital transactions worth ₹9 lakh crore. With the scheme now extended to 2030 at a ₹7,332 crore outlay, the question shifts from reach to whether short-term credit access has built lasting financial resilience.
Key Takeaways
PM SVANidhi completed six years on 1 June 2025 , launched during the Covid-19 pandemic in June 2020 .
Over 75 lakh street vendors availed more than 112 lakh loans worth over ₹17,800 crore .
Nearly 95 per cent of beneficiaries accessed formal institutional credit for the first time.
Nearly ₹800 crore distributed via cashback incentives and interest subsidies; 841 crore digital transactions recorded worth ₹9 lakh crore .
Scheme extended to 2030 with a ₹7,332 crore outlay, targeting 1.15 crore beneficiaries and UPI-linked credit cards.
53 lakh beneficiaries from marginalised communities ( 70% of total); women constitute 46% of beneficiaries.
Prime Minister Narendra Modi on Monday, 1 June 2025 marked six years of the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, crediting it with transforming the financial lives of street vendors across India through collateral-free credit and digital inclusion. The scheme, launched in June 2020 amid the Covid-19 pandemic, has since disbursed over 112 lakh loans worth more than ₹17,800 crore to over 75 lakh beneficiaries.
Key Achievements at the Six-Year Mark
According to official data, nearly 95 per cent of PM SVANidhi beneficiaries entered formal institutional credit for the first time. A further 30 per cent went on to access additional credit beyond the scheme's own loan products — a sign, the government argues, of deepening financial integration at the grassroots level. The scheme has also reportedly contributed to nearly 20 per cent annual income growth among participating vendors.
Nearly ₹800 crore was channelled to street vendors through cashback incentives and interest subsidies, aimed at encouraging digital payments and timely loan repayment. The government stated that street vendors collectively recorded over 841 crore digital transactions worth nearly ₹9 lakh crore, positioning them as active participants in India's expanding digital economy.
What PM Modi Said
In a post on X, Prime Minister Modi wrote: 'Today we mark 6 Years of PM SVANidhi, a scheme which has transformed the lives of countless street vendors by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth. This scheme is all about trust, dignity and empowerment.' He added: 'My best wishes to all beneficiaries whose determination and enterprise continue to strengthen our nation's economy.'
The government, also posting on X, described the scheme as reflecting Modi's commitment to empower vendors through Swarozgar, Svavlamban, and Swabhimaan — self-employment, self-reliance, and self-respect — framing it as a pillar of Aatmanirbhar Bharat.
Inclusion and Training
Of the scheme's beneficiaries, nearly 53 lakh come from marginalised communities, accounting for 70 per cent of the total. Women constitute approximately 46 per cent of beneficiaries, with the government stating they have gained greater economic stability and livelihood support. Separately, around 6 lakh street food vendors were trained in hygiene and food safety standards by the Food Safety and Standards Authority of India (FSSAI).
Scheme Extended with Higher Outlay
The Centre has extended PM SVANidhi until 2030 with a revised outlay of ₹7,332 crore and enhanced loan limits. The expanded scheme aims to reach 1.15 crore beneficiaries and will introduce UPI-linked credit cards as an additional tool for financial self-reliance. This comes amid a broader government push to formalise the informal economy, with street vending representing one of urban India's largest unorganised livelihoods.
With the 2030 extension now in place, the scheme's next phase will test whether the financial habits built over six years can translate into sustained credit mobility for India's street vendor community.
Point of View
₹17,800 crore disbursed, 95 per cent first-time formal borrowers — but the more telling figure is that only 30 per cent went on to access credit beyond PM SVANidhi. That suggests the scheme has been effective at onboarding the unbanked but has yet to graduate most beneficiaries into the broader formal credit ecosystem. The 20 per cent annual income growth figure, cited without a baseline or methodology, warrants independent verification before it becomes a policy benchmark. Extending the scheme to 2030 is the right call, but the addition of UPI-linked credit cards needs guardrails — digital credit without financial literacy infrastructure can deepen debt traps as easily as it builds resilience.
NationPress
9 Aug 2026
Frequently Asked Questions
What is PM SVANidhi and what has it achieved in six years?
PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi) is a government scheme launched in June 2020 to provide collateral-free working capital loans to street vendors. In six years, it has disbursed over 112 lakh loans worth more than ₹17,800 crore to over 75 lakh vendors, with nearly 95 per cent of beneficiaries accessing formal credit for the first time.
Has PM SVANidhi been extended, and what are the new features?
Yes, the Centre has extended PM SVANidhi until 2030 with a revised outlay of ₹7,332 crore and higher loan limits. The extended scheme targets 1.15 crore beneficiaries and will introduce UPI-linked credit cards to further support financial self-reliance.
Who are the primary beneficiaries of PM SVANidhi?
The scheme primarily serves urban street vendors. Of total beneficiaries, nearly 53 lakh — about 70 per cent — come from marginalised communities, and women account for approximately 46 per cent of all beneficiaries.
How has PM SVANidhi contributed to digital payments among street vendors?
According to official data, street vendors covered under the scheme collectively recorded over 841 crore digital transactions worth nearly ₹9 lakh crore. The government also channelled nearly ₹800 crore in cashback incentives and interest subsidies to encourage digital payments and timely loan repayment.
What did PM Modi say about PM SVANidhi on its sixth anniversary?
Prime Minister Modi, in a post on X, said the scheme 'has transformed the lives of countless street vendors by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth,' describing it as being 'all about trust, dignity and empowerment.' He extended his best wishes to all beneficiaries.
