PM SVANidhi Completes Six Years, Benefits 75.5 Lakh Street Vendors Across India

Agartala: The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme has completed six years of operation, emerging as one of the government’s largest financial inclusion initiatives for urban informal workers, with more than 75.5 lakh street vendors benefiting from affordable collateral-free credit, digital inclusion and social security support.

Marking the occasion in Agartala, Union Minister for Housing and Urban Affairs Manohar Lal, accompanied by Tripura chief minister Manik Saha, interacted with PM SVANidhi beneficiaries from Assam, Arunachal Pradesh, Manipur, Mizoram and Tripura. Credit cards and loan sanction letters were distributed to street vendors from Tripura during the event.

Launched in June 2020 in the aftermath of the Covid-19 pandemic, the scheme was designed to provide working capital support to street vendors whose livelihoods were severely affected by lockdowns and economic disruptions.

Addressing beneficiaries, Manohar Lal said Prime Minister Narendra Modi launched the scheme with the vision of empowering urban poor households and strengthening the livelihoods of street vendors, who form a vital part of India’s urban economy.

“The objective of the scheme was not merely to provide collateral-free loans, but also to ensure dignity, confidence and opportunities for street vendors to move forward in life with financial security and social recognition,” he said.

According to the ministry, the scheme has facilitated more than 1.05 crore loan sanctions and disbursed over ₹17,800 crore to beneficiaries across the country. More than 1.12 crore collateral-free loans have been sanctioned since the scheme’s inception.

The minister said PM SVANidhi has helped lakhs of beneficiaries establish formal banking relationships for the first time, bringing them into the mainstream financial system and promoting economic self-reliance.

The scheme’s impact has extended beyond access to credit. Data released by the ministry shows that 34.81 lakh women street vendors have benefited under the programme, while 51.84 lakh loans have been disbursed to women entrepreneurs. More than 55 lakh vendors have been digitally onboarded, strengthening their participation in the digital economy.

The government also reported a 20% annual increase in average beneficiary incomes, with more than 30% of vendors subsequently accessing formal credit beyond PM SVANidhi, indicating improved financial credibility and business growth.

In the North-Eastern region, more than 2.59 lakh loans worth over ₹430 crore have been sanctioned under the scheme. In Tripura alone, more than 9,300 loans have been sanctioned, with nearly ₹15 crore disbursed to beneficiaries.

Under the complementary SVANidhi Se Samriddhi initiative, over 50 lakh street vendor families have been socio-economically profiled, while more than 1.52 crore welfare scheme benefits have been facilitated across eight central government welfare programmes.

Key Achievements of PM SVANidhi

• More than 1.05 crore loan sanctions facilitated

• Over ₹17,800 crore disbursed

• 75.5 lakh street vendors benefited nationwide

• 34.81 lakh women street vendors empowered

• More than 55 lakh vendors digitally onboarded

• Over 50 lakh vendor families covered under SVANidhi Se Samriddhi

• More than 1.52 crore welfare scheme benefits facilitated

• Average beneficiary incomes increased by 20% annually