PM Street Vendors AtmaNirbhar Nidhi (PM SVANidhi)

Brief
PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) is a central sector micro-credit scheme launched on June 1, 2020, to provide affordable working capital loans to street vendors.

Objective
- Provide collateral-free loans to help vendors restart and expand their livelihoods
- Reward timely repayment with interest subsidies and eligibility for higher loan tranches
- Promote digital transactions through cashback incentives and financial literacy
- Bring informal street vendors into the formal credit system and provide them with a recognized identity

Eligibility Criteria
- Street vendors/hawkers operating in urban areas, census towns, and peri-urban areas
- Must be engaged in vending on or before March 24, 2020
- Vendors must possess a Certificate of Vending (CoV) or Identity Card issued by Urban Local Bodies (ULBs)
Special Cases: Those without ID cards can apply with a Letter of Recommendation (LoR) from the ULB or Town Vending Committee (TVC)

Benefits
- Graduated Loan Tranches:
    i. 1st Loan: Up to ₹15,000 (repayable in 12 months)
    ii. 2nd Loan: Up to ₹25,000 (repayable in 18 months)
    iii. 3rd Loan: Up to ₹50,000 (repayable in 36 months)
- Interest Subsidy: 7% per annum credited directly to the vendor's bank account quarterly for timely or early repayment
- Digital Cashback: Incentives up to ₹1,600 for making retail and wholesale digital transactions
- UPI-Linked Credit Card: A RuPay credit card with a limit up to ₹30,000 is available for those who successfully repay their 2nd loan
- No Collateral or Penalties: Loans require no security, and there are no penalties for early repayment

Nodal Department
Ministry of Housing and Urban Affairs (MoHUA)