The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoodsthat have been adversely affected due to Covid-19 lockdown. The duration of the scheme initially was until March 2022 and later extended to 31.12.2024. It now has been extended till March 31, 2030. Target beneficiaries The restructured scheme aims to benefit 1.15 crore beneficiaries including 50 lakh new beneficiaries. A vendor, according to the scheme guidelines is any person engaged in vending of articles, goods, wares, food items or merchandise of daily use or offering services to the public in a street, footpath, pavement etc., from a temporary built up structure or by moving from place to place. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, artisan products, books/ stationary etc. and the services include barber shops, cobblers, pan shops, laundry services etc. To avail the loan, a vendor should Possess Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs); The vendors, who have been identified in the survey of street vendors but have not been issued Certificate of Vending / Identity Card; In case a vendor is left out of the survey, he/she need to produce one of the following documents to obtain the Letter of Recommendation (LoR) from Urban Local Bodies /TVC: Documents of past loan taken from a bank/ NBFC/ MFI for the purpose of vending; or Membership details, If member of street vendors’ association like NASVI, NHF, SEWA etc.; or Any other documents to prove that s/he is a vendor; The vendor can also request ULB through a simple application on white paper to conduct local enquiry to ascertain the genuineness of his/her claim for receipt of LoR. KYC document needed : Aadhaar Card / Voter’s Identity Card / Driving Licence / MNREGA Card / PAN Card. To check if your name is present in the survey of street vendors, click here. Scheme Benefits The scheme’s coverage is being expanded beyond statutory towns to census towns, peri-urban areas etc. in graded manner. The enhanced loan structure includes first tranche loans increased up to ₹15,000 (from ₹10,000) and second tranche loans increased up to ₹25,000 (from ₹20,000), while the third tranche remains unchanged at ₹50,000. On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis. There will be no penalty on early repayment of loan. The introduction of UPI-linked RUPAY Credit Card would provide immediate access of credit to the street vendors in order to meet any emergent business and personal requirements. Further, in order to give boost to digital adoption, the street vendors can avail cashback incentives upto ₹1,600 on making retail & wholesale transactions. The vendors can avail the facility of escalation of the credit limit on timely/ early repayment of loan. The scheme also focuses on building the capacity of the street vendors with a focus on entrepreneurship, financial literacy, digital skills, and marketing through convergence. Standard hygiene and food safety trainings would be conducted for street food vendors, in partnership with FSSAI. In order to ensure holistic welfare & development of the street vendors and their families, the ‘SVANidhi se Samriddhi’ component will be further strengthened, through monthly Lok Kalyan Melas. Implementation agency Implementation of the scheme would be the joint responsibility of Ministry of Housing & Urban Affairs (MoHUA) and Department of Financial Services (DFS), with DFS being responsible for facilitating access to loan/ credit cards through banks/financial institution and their ground level functionaries. Small Industries Development Bank of India (SIDBI) Online application To apply online, click here. Whom to contact Your nearest Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Bank, Non-Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs) and SHG Banks. To access the complete scheme guidelines, click here. To access the FAQs about the scheme, click here. Source : Ministry of Housing and Urban Affairs