Staff Reporter / New Delhi
The Union Cabinet has approved the restructuring of the Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) Scheme, with the lending period now extended from the earlier deadline of 31 December 2024 to 31 March 2030. The revamped scheme carries a total outlay of ₹7,332 crore.
Under the revised framework, loan amounts available to street vendors have been enhanced. The first tranche loan limit has been raised from ₹10,000 to ₹15,000, while the second tranche has gone up from ₹20,000 to ₹25,000. The third tranche remains unchanged at ₹50,000.
In a significant digital push, beneficiaries who successfully repay their second loan will be eligible for a UPI-linked RuPay Credit Card, offering them instant credit access for business and personal needs. Additionally, vendors will be able to earn cashback incentives of up to ₹1,600 on retail and wholesale transactions, aimed at encouraging digital payments.
The government estimates that the restructured scheme will benefit 1.15 crore street vendors, including 50 lakh new entrants. Coverage is being expanded beyond statutory towns to include census towns and peri-urban areas, ensuring wider outreach.
Launched in June 2020 in response to the hardships faced by street vendors during the COVID-19 pandemic, the PM SVANidhi Scheme has so far sanctioned over 96 lakh loans worth ₹13,797 crore, benefiting more than 68 lakh vendors across the country as of July 2025.
Officials said the extension and restructuring will provide greater financial resilience to the street vendor community, strengthen their participation in the formal economy, and accelerate digital inclusion.
