PM SVANidhi (Micro Credit Scheme for Street Vendors)
This profile has been independently compiled from official gazette notifications and verified web domains. Source Authority Link: pmsvanidhi.mohua.gov.in Authority: Ministry of Finance • State/Region: Central Scheme (All India) • Last Audited: 21 Oct 2026
Quick AI Summary
Collateral‑free working‑capital loans up to Rs 50,000 for street vendors, with a 7 % interest subsidy and digital transaction cashback incentives.
Detailed Summary
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.
Key Benefits & Financial Assistance
| Comparison Criteria | Benefits |
|---|---|
| Key Benefits |
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Eligibility Criteria Profile
| Comparison Criteria | Eligibility |
|---|---|
| Minimum Age Limit | 18 Years or above |
| Physical Disability | Not Restricted (Anyone can apply) |
| Domicile State | All India (Central Scheme) |
Application Process Guide
- Register on the PM SVANidhi portal (https://pmsvanidhi.mohua.gov.in/) using Aadhaar and mobile number.
- Upload scanned copies of the Certificate of Vending or Letter of Recommendation, PAN/Aadhaar, and bank account details.
- Submit the application; it is routed to the designated bank for verification.
- Upon approval, the loan amount is disbursed directly into the vendor’s bank account.
- Repayment is made through post‑dated cheques, ECS, or digital transfers as per the agreed schedule.
Common FAQs regarding this Yojana
Eligible permanent residents meeting the specified domicile, income, and category criteria can submit an application along with verified credentials.
Key mandatory documents include Aadhaar Card, Residence/Domicile Certificate, Income Certificate, and active Bank Account Passbook.
Benefits are directly credited to the beneficiary's Aadhaar-seeded bank account through the Public Financial Management System (PFMS) / DBT.
Applicants can track status in real-time by logging into the official portal using their Application Reference Number.