What is PM SVANidhi?

Ministry of Housing & Urban Affairs launched a scheme – PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) on June 1, 2020. The scheme has been launched to empower street vendors by providing them with loans. Under this scheme, the ministry aims to provide collateral free loans of up to Rs 10,000 to street vendors for resuming their business in urban areas. The scheme aims to cover approximately 50 lakh street vendors.

Features of PM SVANidhi

  • Under PM SVANidhi, street vendors can get a collateral free loan upto Rs 10,000 for 1 year.
  • Vendors availing loans under the PM SVANIdhi will be eligible to get an interest subsidy @ 7%. The interest subsidy will be credited into the borrower’s account quarterly.
  • The scheme also aims to encourage digital transactions through cash back facility for vendors. Vendors availing loans can get a cashback of upto Rs 1200 per annum on undertaking prescribed digital transactions.
  • The street vendors will be eligible for a loan with an enhanced limit on timely or early repayment.

Eligibility Criteria of Beneficiaries

  • All street vendors who are involved in vending in urban areas on or before 24th March 2020 will be eligible for PMSVANidhi scheme.
  • Street vendors having an Identity Card /Certificate of Vending issued by Urban Local Bodies (ULBs) will be eligible for the scheme.
  • Vendors, who have not been issued Identity Card/Certificate of Vending but have been identified in the survey, will be provided with a provisional certificate of vending.
  • Street Vendors, who were not included in ULB identification survey or who started vending after completion of the survey and have been issued Letter of Recommendation (LoR) by the ULB / Town Vending Committee (TVC), will also be eligible.
  • The vendors of surrounding rural / peri-urban areas, who are vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR), will also be eligible for the scheme.

Eligibility of States/UTs

Street vendors of States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014 will be eligible for PM SVANidhi Scheme. Vendors from Meghalaya, which has its own State Street Vendors Act, can, however, participate.


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