PM Svanidhi

PM SVANidhi stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi. Launched in June 2020 by the Ministry of Housing and Urban Affairs (MoHUA), this central sector scheme aims to support street vendors adversely affected by the COVID-19 pandemic. The primary goal is to integrate these vendors into the formal economic system and facilitate their access to formal credit channels. Under the scheme, street vendors can avail themselves of a collateral-free working capital loan of ₹10,000, and subsequently, loans of ₹20,000 and ₹50,000 are offered with a 7% interest subsidy. PM SVANidhi also encourages regular repayment and rewards digital transactions as part of its initiatives.