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PM SVANidhi Scheme Extended: How 1.15 Crore Street Vendors Will Benefit

The PM SVANidhi scheme has been restructured and extended to help more street vendors. It now offers higher loan amounts and new digital benefits. Vendors can get a special credit card and earn cashback for using digital payments. The scheme has even won awards for its innovative approach to supporting small businesses.

Key Points: PM SVANidhi Scheme Extended to 2030 for 1.15 Crore Beneficiaries

  • Lending period extended to March 2030 with a total outlay of Rs 7,332 crore
  • First loan tranche increased to Rs 15,000 and second to Rs 25,000
  • Introduces UPI-linked RuPay Credit Card for timely repayers
  • Offers digital cashback up to Rs 1,200 annually on transactions
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PM SVANidhi scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new ones

The restructured PM SVANidhi scheme extends loans until 2030, targets 1.15 crore street vendors with higher loan amounts and digital cashback incentives.

"The restructured Prime Minister Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) Scheme aims to benefit 1.15 crore beneficiaries - Official Statement"

New Delhi, Dec 20

The restructured Prime Minister Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) Scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries, an official statement said on Saturday.

The lending period has now been extended until March 31, 2030. The total outlay for the scheme is Rs 7,332 crore, the statement added.

On August 27, 2025, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the "Restructuring and extension of the lending period beyond 31.12.2024 of PM SVANidhi Scheme".

The key features of the restructured scheme include enhanced loan amount across the first and second tranches, provision of UPI-linked RuPay Credit Card for beneficiaries who have timely repaid the second loan, and digital cashback incentives for retail & wholesale transactions. The scheme's coverage is being expanded beyond statutory towns to census towns, peri-urban areas, etc, in a graded manner.

The enhanced loan structure includes first tranche loans increased up to Rs 15,000 (from Rs 10,000) and second tranche loans increased up to Rs 25,000 (from Rs 20,000), while the third tranche is at Rs 50,000.

The introduction of UPI-linked RUPAY Credit Card would provide immediate access to credit to the street vendors in order to meet any emergent business and personal requirements.

Further, to give a boost to digital adoption, the street vendors can avail a cashback on digital transactions: Cashback up to Rs 1,200 on regular sales with a maximum of Rs 100 per month and cashback up to Rs 400 on wholesale purchases of Rs 2,000 or more (Rs 20 per transaction with a maximum of Rs 100 per quarter).

The scheme has received national recognition, winning the Prime Minister's Award for Excellence in Public Administration (2023) for Innovation (Central Level) for its outstanding contribution to boosting the economy, promoting livelihoods, advancing financial inclusion, and driving digital empowerment, and the Silver Award for Excellence in Government Process Re-engineering for Digital Transformation (2022).

- IANS

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Reader Comments

S
Shreya B
Good to see the extension and expansion to more areas. The cashback for digital transactions is a smart push for financial literacy and inclusion. Hope the application process is made simpler on the ground so that every eligible vendor, regardless of their tech knowledge, can benefit.
A
Aman W
While the scheme's intent is excellent, the real test is implementation. In my city, many vendors complained about delays and paperwork. I hope with this restructuring, the banks and municipal bodies are better coordinated to ensure smooth and timely disbursement. The enhanced amounts are welcome, though.
P
Priya S
The UPI-linked RuPay card is a brilliant move! It solves the problem of emergency funds. Often, these small vendors have to borrow from moneylenders at high interest for personal needs. This gives them dignity and financial security. More such schemes are needed for other informal sectors too.
D
David E
Interesting to see India's focus on micro-entrepreneurship and digital finance. The cashback model to incentivize digital transactions is a clever nudge. The scale of 1.15 crore beneficiaries is massive. Will be watching how this impacts the informal economy's integration.
K
Kavya N
Extending to 2030 provides much-needed stability. Vendors can now plan better. The inclusion of census towns is crucial—development shouldn't be limited to big cities. Hope there's also a strong component of training on how to use these digital tools effectively. Jai Hind!

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