New Delhi, August 27: The Prime Minister Street Vendors Atmanirbhar Nidhi (PM Svanidhi) scheme has successfully completed one year in its restructured form. The central government approved the expanded and restructured version of this scheme on August 27, 2025, extending the loan distribution period until March 31, 2030.
According to the government, in the first year following the restructuring, 21.86 lakh loans have been distributed under the scheme, amounting to a total value of ₹6,294 crores. During this period, 10.56 lakh new beneficiaries have joined the program. The government emphasizes that this initiative aims not just to provide loans but to empower small entrepreneurs and foster economic self-sufficiency.
An official statement from the Ministry of Housing and Urban Affairs noted that the scheme aims to connect 1.15 crore street vendors across the country with formal loans, digital financial inclusion, social security, skill development, and entrepreneurship. The goal is to include approximately 50 lakh new beneficiaries.
To facilitate easier access to the formal financial system, the government has introduced a UPI-linked RuPay credit card for eligible beneficiaries, offering a credit limit of up to ₹30,000. So far, 27,077 credit cards have been approved, aiding small traders in meeting immediate cash needs and adopting digital payments.
The end-to-end digital lending platform (DLP) initiated under the scheme has streamlined the entire process from application to verification, approval, and loan distribution.
Additionally, the government has developed a vendor migration module, allowing vendors who move from one urban body area to another to continue receiving their recommendation letters and benefits without interruption.
The statement further revealed that the restructured scheme has adopted a city-region approach, incorporating census towns into the program. This will enable more street vendors to access formal loans and livelihood support mechanisms.
According to the government, PM Svanidhi has evolved beyond mere loan distribution into a comprehensive program promoting entrepreneurship and innovation. The ongoing PM Svanidhi Startup Challenge encourages startups and innovators to develop solutions in areas such as market access, digital payments, financial services, logistics, and vending infrastructure.
To enhance the businesses and infrastructure of street vendors, the government plans to develop 50 Street Food Hubs (SFH) across the country. Each hub will receive financial assistance of up to ₹4 crores, along with an additional ₹25 lakh for notifying vending zones.
Furthermore, the ministry announced that public welfare fairs are being organized nationwide to increase the scheme’s reach, where street vendors, banks, and urban local bodies come together on a single platform.
The government has declared that the next phase of public welfare fairs will take place from September 1 to September 30, 2026. These fairs will provide beneficiaries with information and facilities related to loans, social welfare schemes, and capacity-building programs.
Launched in June 2020, the scheme has since provided over 1.18 crore loans to 78.68 lakh street vendors, totaling more than ₹19,171 crores. To encourage timely loan repayment, the government has already disbursed ₹421 crores in interest subsidies. Additionally, 57.09 lakh vendors have completed over ₹908 crores in digital transactions.
To promote digital payments under the scheme, cashback incentives totaling ₹418.78 crores have been issued. Moreover, under the Svanidhi Se Samriddhi initiative, the socio-economic profiling of over 51.15 lakh beneficiary families has been conducted.
The government reports that eligible families have received over 1.59 crore benefits under eight major welfare schemes. Furthermore, more than 6 lakh street food vendors have received food safety and hygiene training through FSSAI.
The government asserts that PM Svanidhi has transformed from a simple loan scheme into a comprehensive mission promoting financial inclusion, digital empowerment, social security, skill development, and entrepreneurship. The achievements of the first year of the restructured scheme demonstrate ongoing progress toward making millions of street vendors self-reliant micro-entrepreneurs, playing a crucial role in achieving the goal of a ‘Developed India 2047.’
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