More than 1.12 crore collateral-free loans worth over ₹17,800 crore have been disbursed under the PM SVANidhi scheme since its launch in June 2020, the Ministry of Housing and Urban Affairs said on Sunday.
The scheme, officially known as the Prime Minister Street Vendor’s AtmaNirbhar Nidhi, has emerged as a major instrument for financial inclusion and economic empowerment of street vendors across urban India.
According to the ministry, over 75.5 lakh street vendors have benefited from the scheme, which was introduced in the aftermath of the COVID-19 pandemic to provide affordable working capital to those traditionally dependent on informal and high-interest credit sources.
Under the scheme, vendors are eligible for collateral-free loans in three progressive tranches of ₹15,000, ₹25,000 and ₹50,000. It also provides interest subsidy benefits and credit guarantee support to borrowers.
Beneficiaries who successfully repay their loans are further eligible for UPI-linked RuPay credit cards with limits of up to ₹30,000, strengthening their access to formal financial systems.
The ministry highlighted that digital inclusion has been a key pillar of PM SVANidhi, with more than 55 lakh beneficiaries onboarded onto digital payment platforms. Collectively, they have conducted over 841 crore digital transactions worth nearly ₹8.96 lakh crore.
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In addition, beneficiaries have received around ₹800 crore in cashback incentives and interest subsidies, further encouraging adoption of digital financial services.
Officials said nearly 95 per cent of beneficiaries accessed formal credit for the first time through the scheme, marking a significant shift from informal lending channels. Around 30 per cent of beneficiaries later accessed additional loans beyond PM SVANidhi, indicating improved creditworthiness.
Independent impact assessments conducted in 2023 and 2025 found that beneficiary incomes rose by nearly 20 per cent annually on average, alongside improvements in housing stability, healthcare, education and nutrition indicators.
Women constitute nearly 46 per cent of the beneficiaries, while around 70 per cent belong to marginalised communities, reflecting the scheme’s inclusive outreach.
The government has extended PM SVANidhi till March 2030, continuing its focus on strengthening urban livelihoods and financial inclusion for street vendors.
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