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PM SVANidhi Scheme
PM SVANidhi completes 6 years of providing street vendors access to affordable credit and social security measures. The scheme remains in focus due to its reported loan sanctions, disbursals, and beneficiary coverage during this period.
PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi) Scheme:
| Dimension | Key Details |
|---|---|
| Full Name | PM SVANidhi provides for PM Street Vendor's AtmaNirbhar Nidhi. |
| Scheme Type | PM SVANidhi comprises a Central Sector Scheme. |
| Objective | The scheme provides for support to street vendors through affordable working capital, financial inclusion, and social protection measures. |
| Launch | The scheme has been launched in 2020. |
| Nodal Responsibility | The scheme is governed by the joint responsibility of the Ministry of Housing and Urban Affairs (MoHUA) and the Department of Financial Services (DFS). |
| Definition: Street Vendor/Hawker | A street vendor/hawker comprises any person as mobile or stall-based sellers of daily goods and services, ranging from food and vegetables to basic services like haircuts, shoe repairs, and laundry services. |
| Working Capital Loans | Collateral-free loans are provided in 3 progressive tranches of ₹15,000, ₹25,000, and ₹50,000, with interest subsidy and credit guarantee support. |
| UPI-linked RuPay Credit Cards | Vendors successfully repaying the second tranche are eligible for UPI-linked RuPay Credit Cards with limits up to ₹30,000. |
| Digital Adoption Incentive | Cashback incentives of up to ₹1,600 are provided to street vendors for retail/wholesale digital transactions. |
| SVANidhi se Samriddhi (SSS) | Socio-economic profiling of beneficiaries and their families is undertaken to link them with 8 selected Central welfare schemes and create a holistic social security net. |
| Capacity Building and Collaboration | Vendors are provided with training in financial literacy, digital literacy, and food safety and hygiene in collaboration with FSSAI. |
| Key Achievements | Facilitates 1.05 crore+ loan sanctions, ₹17,800 crore+ disbursals, 34.81 lakh women street vendors empowered, nearly 46% women beneficiaries, around 70% beneficiaries from marginalized communities, 50 lakh+ street vendor families socio-economically profiled under SSS, and 1.52 crore+ welfare scheme sanctions under 8 Central Government welfare schemes. |