PM SVANidhi Explained: How Street Vendors Can Apply- Check Eligibility Criteria, Benefits And Other Details

The Covid-19 lockdowns left millions of street vendors without income, compelling many of them to shut shop. To help them restart their livelihoods, the Ministry of Housing and Urban Affairs introduced the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme on June 1, 2020. The programme offers collateral-free working capital loans of up to Rs 10,000, repayable in easy instalments, and is aimed at supporting vendors in urban areas.According to ministry data, nearly two million applications were filed during the initial rollout, with more than 7.5 lakh loans sanctioned and over 2 lakh disbursed. For many vendors, this scheme has served as both a short-term relief measure and a gateway to formal credit systems, offering a chance to rebuild livelihoods disrupted by the pandemic.

Who can apply?

The scheme covers vendors engaged in vending on or before March 24, 2020. Eligible vendors include fruit and vegetable sellers, hawkers, cobblers, tea stall owners, and similar small traders. However, beneficiaries must possess a 'Certificate of Vending' or an identity card issued by the local urban body. In cases where vendors lack documentation, a letter of recommendation from the town vending committee can also be used.

How to apply?

Applications can be submitted online through the PM SVANidhi portal or via Common Service Centres (CSCs). Applicants need to provide basic details such as Aadhaar, mobile number, bank account information, and proof of vending activity. After verification by the local urban body, loan requests are forwarded to banks for approval.

Also Read: Cabinet Extends PM SVANidhi Scheme Till 2030, Expands Credit Support for Street Vendors | Republic World

What happens after approval?

Once sanctioned, the loan amount is directly credited to the vendor’s bank account. Timely repayment makes the vendor eligible for a higher loan in the next cycle. To encourage digital adoption, vendors using digital payment methods also receive cashback incentives.

What is its validity period?

It may be recalled that the Union Cabinet has approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, pushing its lending period from the earlier deadline of December 31, 2024, to March 31, 2030. The revised scheme carries an outlay of Rs 7,332 crore and aims to cover 1.15 crore beneficiaries, including 50 lakh new entrants.