 |
| Discover the PM SVANidhi Scheme 2025: ₹50,000 loans for street vendors |
India has Street vendors as one of the important elements in
city economy. They are selling fruits, veggies, and running small shops by the
road, providing people with cheap goods and services day by day. Still, they
are prone to money issues, lack of bank loans and governmental assistance. The
PM SVANidhi scheme, a program initiated in June 2020 by the PM Street Vendor
which is called the AtmaNirbhar Nidhi scheme, has provided these vendors with
financial stability, visibility and opportunities to expand.
New Delhi, The Central Government has approved a major revamp of the PM Street Vendor’s
AtmaNirbhar Nidhi (PM SVANidhi) scheme aimed at empowering street vendors.
In a Cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday, the
scheme was extended until March 31, 2030, with a total budget allocation
of ₹7,332 crore.
This decision is expected to benefit around 1.15 crore
street vendors, including nearly 50 lakh new beneficiaries. Along
with the extension, the loan limits under the scheme have been revised.
- First
stage loan: Increased from ₹10,000 to ₹15,000
- Second
stage loan: Increased from ₹20,000 to ₹25,000
- Third stage loan: Loan limit remains at ₹50,000
Focus on Digital Empowerment :
The government is also encouraging digital transactions
under this scheme. Street vendors who repay their second-stage loans on time
will receive a RuPay credit card (UPI-based) for meeting both business
and personal needs.
Vendors who adopt and accept digital payments will be eligible for cashback incentives of up to ₹1,600.
Training & Skill Development :
The scheme now goes beyond financial assistance, aiming for
the socio-economic upliftment of street vendors. Beneficiaries will
receive training in:
- Entrepreneurship
- Financial
literacy
- Digital
skills
- Marketing
strategies
Food vendors will also be trained in hygiene and food
safety standards, in collaboration with the Food Safety and Standards
Authority of India (FSSAI).
Additionally, under the “SVANidhi Se Samriddhi” initiative, Lok Kalyan Melas (public welfare camps) will be organized to connect street vendors and their families with other government welfare schemes.
Proven Success Since 2020 :
Launched on June 1, 2020, during the COVID-19
pandemic to support street vendors, the PM SVANidhi scheme has shown remarkable
results.
- By July
30, 2024, over 96 lakh loans worth ₹13,797 crore had
been disbursed to more than 68 lakh street vendors.
- More
than 47 lakh vendors have shifted to digital transactions,
conducting over ₹6.09 lakh crore worth of payments.
- These vendors have collectively earned ₹241 crore in cashback rewards.
FAQs ON THIS PM SVANIDHI SCHEME 2025 :
1. What is the PM SVANidhi Scheme 2025?
The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme is a government initiative aimed at providing affordable working capital loans to street vendors across India. In 2025, vendors can avail loans up to ₹50,000 to restart or expand their businesses, ensuring financial support and promoting entrepreneurship at the grassroots level.
2. Who is eligible to apply for the PM SVANidhi Scheme?
Eligibility for the scheme includes street vendors who have been operating on or before March 2020, are registered under the Urban Local Bodies (ULB) or vendor databases, and run a small-scale business. Vendors must have a valid government ID and proof of their vending activity to apply for the loan.
3. How much loan can street vendors get under the PM SVANidhi Scheme 2025?
Under this scheme, eligible street vendors can get working capital loans up to ₹50,000. The scheme also encourages timely repayment by offering interest subsidies and digital transaction incentives, making it easier for vendors to manage and grow their businesses.
4. What is the process to apply for the PM SVANidhi Loan?
Street vendors can apply through their nearest bank or microfinance institution registered with the scheme. The process typically involves submitting ID proof, vendor registration, and business details. Many cities also provide online application portals for hassle-free processing and faster loan disbursal.
5. What are the benefits of the PM SVANidhi Scheme 2025?
The scheme provides multiple benefits :
-
Affordable credit to help restart or expand businesses.
-
Interest subsidies for timely repayment.
-
Digital transaction rewards to promote cashless payments.
-
Financial inclusion by integrating street vendors into the formal banking system.
Overall, it empowers vendors to become financially self-reliant and contributes to local economic growth.
1. PM SVANidhi Scheme 2025: Empowering Street Vendors with ₹50,000 Loans
The PM SVANidhi Scheme offers street vendors collateral-free loans up to ₹50,000, promoting financial inclusion and business growth.
Read More
2. How to Apply for ₹50,000 Loan Under PM SVANidhi Scheme
Step-by-step guide on applying for the PM SVANidhi loan, including eligibility criteria and required documents.
Read More
3. Benefits of PM SVANidhi Scheme for Street Vendors
Explore the advantages of the PM SVANidhi Scheme, such as interest subsidies, digital transaction incentives, and enhanced loan limits.
Read More
4. Documents Required for PM SVANidhi Loan Application
List of essential documents needed to apply for the PM SVANidhi loan, ensuring a smooth application process.
Read More
5. Impact of PM SVANidhi Scheme on India's Informal Economy
Analysis of how the PM SVANidhi Scheme is transforming the livelihoods of street vendors and contributing to the economy.
Read More
