The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the restructuring of the loan tenure of the Pradhan Mantri Street Vendor AtmaNirbhar Nidhi Yojana i.e. PM SVANidhi Yojana and extension beyond 31 December 2024.
The loan tenure has now been extended to 31 March 2030. The total budget of the restructured scheme has been set at ₹7,332 crore, which will benefit 1.15 crore street vendors, including 50 lakh new beneficiaries.
Responsibility for implementation of the plan
The scheme will be implemented jointly by the Ministry of Housing and Urban Affairs and the Department of Financial Services (DFS). DFS will facilitate the issuance of loans and UPI-linked RuPay credit cards through banks and financial institutions.
Major changes and features
Increase in loan amount:
1st Installment: ₹10,000 → ₹15,000
2nd Installment: ₹20,000 → ₹25,000
3rd Installment: ₹50,000 (Same as before)
RuPay Credit Card Facility:
Beneficiaries paying the second instalment will get a UPI-linked RuPay credit card, enabling them to receive instant credit support.
Incentive on digital payments:
Cashback of up to ₹1,600 will be given on retail and wholesale digital transactions, which will promote digital transactions.
Expansion of the scheme:
Now the benefits of the scheme will not be limited to statutory towns only but will be gradually extended to census towns, semi-urban and rural areas.
Skill Development of Street Vendors
Under the scheme, vendors will be given training in entrepreneurship, digital literacy, financial management and marketing. With the help of FSSAI, food vendors will also get training on hygiene and food safety. Through the monthly ‘Lok Kalyan Mela’, the benefits of government schemes will be extended to the vendors and their families, ensuring their overall socio-economic development.
Achievements so far (by July 2025):
Over 96 lakh loans disbursed (₹13,797 crore)
68 lakh active beneficiaries
Over 557 crore digital transactions (₹36.09 lakh crore worth)
₹241 crore cashback provided
46 lakh profiling, 1.38 crore scheme approvals under ‘Swanidhi se Samriddhi’
National Honours
Prime Minister’s Excellence Awards (2023) – Silver Award for Innovation at Centre Level
(2022) – for Digital Transformation
Objective: Self-reliant street vendors and prosperous urban India
This scheme has become a means of not just financial assistance but also empowerment, business expansion, and digital inclusion of street vendors. Its extension till 2030 is an important step towards making the urban economy vibrant and self-reliant.
