Scheme Overview

The Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) is a centrally administered micro‑credit facility aimed at providing street vendors with collateral‑free working‑capital loans. The scheme authorises three loan tranches: Rs 10,000 (first tranche), Rs 20,000 (second tranche) and Rs 50,000 (third tranche). Loans are disbursed through participating public sector banks and are repayable over a maximum tenure of 36 months.

Operational Mechanism

Eligible vendors register on the PM SVANidhi portal, upload requisite documents, and receive loan approval after verification by the designated bank. The sanctioned amount is credited directly to the vendor’s bank account. An interest subsidy of 7 % is provided on the principal, reducing the effective cost of borrowing. Additionally, vendors who transact digitally receive a cashback of up to Rs 1,200 per annum.

Target Beneficiaries

The scheme targets informal sector street vendors across urban, semi‑urban and rural areas of India, irrespective of gender, caste or community, provided they possess a valid Certificate of Vending or a Letter of Recommendation from the respective Urban Local Body.

1. Register on the PM SVANidhi portal (https://pmsvanidhi.mohua.gov.in/) using Aadhaar and mobile number.
2. Upload scanned copies of the Certificate of Vending or Letter of Recommendation, PAN/Aadhaar, and bank account details.
3. Submit the application; it is routed to the designated bank for verification.
4. Upon approval, the loan amount is disbursed directly into the vendor’s bank account.
5. Repayment is made through post‑dated cheques, ECS, or digital transfers as per the agreed schedule.