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Informist, Wednesday, Aug. 27, 2025

 

--Govt: Cabinet OKs extension of lending period of PM street vendors scheme 

--Cabinet OKs extending lending period of street vendors plan till Mar 2030 

--Govt: Total outlay for PM street vendors plan INR 73.32 bln 

 

NEW DELHI – The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the restructuring and extension of the lending period of the PM Street Vendor's AtmaNirbhar Nidhi Scheme, also known as PM SVANidhi scheme, the government said Wednesday.

 

The lending period of the scheme has been extended till Mar. 31, 2030 from Dec. 31, 2024, the government said in a release. The total outlay for the scheme is INR 73.32 billion. The restructured scheme aims to reach 11.5 million beneficiaries, including 5 million new beneficiaries, the government said.

 

The restructured scheme provides bigger loans across the first and second tranches, provision of Unified Payments Interface-linked RuPay Credit Card for beneficiaries who have repaid the second loan, and digital cashback incentives for retail and wholesale transactions.

 

Now, vendors will be able to avail bigger loans of up to INR 15,000 in the first tranche compared to INR 10,000 previously. The government has increased the loan amount in the second tranche up to INR 25,000 from INR 20,000, while the third tranche loan amount remains unchanged at INR 50,000. 

 

"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," the government said. "Further, in order to give boost to digital adoption, the street vendors can avail cashback incentives upto INR 1,600 on making retail & wholesale transactions." The scheme's coverage is also being expanded beyond statutory towns to census towns and peri-urban areas in a graded manner, the government said.

 

The government had first launched the PM SVANidhi scheme in June 2020 to support street vendors during the COVID-19 pandemic. As of Jul. 30, over 9.6 million loans amounting to INR 137.97 billion have been disbursed to more than 6.8 million street vendors.  End

 

Reported by Shubham Rana

Edited by Avishek Dutta

 

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