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

The PM SVANidhi scheme has been restructured and extended to help even more street vendors. It now offers bigger loans and cool new features like a UPI-linked credit card. Vendors can even earn cashback when they make digital sales or purchases. This is a big push to help small businesses go digital and grow.

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 for vendors
  • UPI-linked RuPay Credit Card offered for timely repayment of second loan
  • Digital cashback incentives for retail and wholesale transactions to boost adoption
2 min read

PM SVANidhi scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new ones

PM SVANidhi scheme extended to 2030 with enhanced loans, UPI credit cards, and digital cashback to benefit 1.15 crore street vendors, including 50 lakh new beneficiaries.

"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
The extension to 2030 and expansion to census towns is very welcome. Many vendors in smaller towns were left out. The digital cashback is a smart push for formalization. Hope the application process remains simple and corruption-free at the ground level.
A
Aman W
Good scheme on paper. But in my area, many vendors complain about delays and too much paperwork. The government must ensure banks and officials don't create hurdles. The benefits should reach the people smoothly.
P
Priya S
The UPI-linked credit card is a brilliant feature! It gives vendors a safety net for emergencies. Combining credit with digital incentives is the right way to build Atma Nirbhar Bharat. More such targeted schemes are needed.
D
David E
As someone working in microfinance, I'm impressed by the structure. The tiered loans (15k, 25k, 50k) reward good repayment behavior. The cashback for digital transactions tackles two issues at once - financial inclusion and digital adoption. Well thought out.
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Nisha Z
Hope the awareness reaches every vendor. Often, these schemes are launched with fanfare but the people who need it most don't know how to apply. Local NGOs and municipal corporations should run camps to help with the process.

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