PM SVANidhi Scheme Extended Till 2030 | Higher Loans & Credit Cards for Street Vendors

PM SVANidhi Scheme: In a major boost for urban street vendors, the Union Cabinet on Tuesday approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme beyond its earlier deadline of December 31, 2024. The scheme will now run until March 31, 2030.

The scheme, which was earlier set to end in December 2024, will now continue till March 31, 2030, with a total outlay of Rs 7,332 crore.

Banks and financial institutions will play a key role in disbursing loans and credit cards on the ground.

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Loan amounts have been increased: the first loan can now go up to Rs 15,000 (earlier Rs 10,000) and the second up to Rs 25,000 (earlier Rs 20,000). Third loan remains Rs 50,000.

Beneficiaries who repay the second loan on time will get a UPI-linked RuPay Credit Card to help meet business and personal needs quickly.

Digital cashback of up to Rs 1,600 will be given for retail and wholesale transactions to encourage vendors to use digital payments.

Coverage of the scheme will expand beyond statutory towns to census towns and peri-urban areas in a phased manner.

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As of July 30, 2025, over 96 lakh loans worth Rs 13,797 crore had been disbursed to more than 68 lakh suppliers. 47 lakh beneficiaries are digitally active, have done more than 557 crore digital transactions worth Rs 6.09 lakh crore and have earned Rs 241 crore as cashback.

Under the ‘SVANidhi se Samriddhi’ initiative, profiling of 46 lakh vendors has helped in linking them to over 1.38 crore government schemes through 3,564 Urban Local Bodies (ULBs).

With this extension, the government aims to expand the scheme and strengthen financial support to small vendors so that they can become more stable and digital.

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