The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a transformative initiative launched by the Ministry of Housing and Urban Affairs (MoHUA) on 1st June 2020. Aimed at providing support to street vendors, this micro-credit scheme offers collateral-free loans to empower them economically and promote their financial inclusion.

PM SVANidhi

PM Svanidhi Yojana

The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Yojana provides street vendors with an initial loan of up to ₹10,000, followed by subsequent loans of ₹20,000 and ₹50,000. This scheme includes an interest subsidy of 7% and actively encourages the adoption of digital transactions among street vendors by incentivizing them with cashback benefits.

Full Details Of This Scheme

Name of SchemePM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)
AnnouncementMinistry of Housing and Urban Affairs (MoHUA)
State NameNationwide Implementation
ImplementationJune 1, 2020
ObjectivesProvide support to street vendors for business revival and expansion
IncentiveCollateral-free loans of ₹10,000 initially, with subsequent loans of ₹20,000 and ₹50,000; 7% interest subsidy
BeneficiariesStreet vendors across India
Application StartsOngoing
ProcessOnline and Offline Registration
Official Websitehttps://pmsvanidhi.mohua.gov.in/

Objectives

  • Give money to street vendors to grow their businesses.
  • Support street vendors to become official businesses.
  • Encourage street vendors to use digital money more.
  • Help street vendors start their own businesses.
  • Make more job opportunities for people.

Eligibility Criteria

  • Possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs).
  • Surveys found street vendors without a Certificate of Vending or Identity Card.
  • Street vendors left out of ULB-led identification surveys or started vending after the survey with a Letter of Recommendation (LoR) from ULB / Town Vending Committee (TVC).
  • Vendors from surrounding areas vending within ULB geographical limits with LoR from ULB / TVC.

Benefits

  • Collateral-free loan up to ₹10,000 for business restart and expansion.
  • Low-interest rate of 7% on loans, facilitating easier repayment.
  • No requirement of collateral, enhancing accessibility for street vendors.
  • Zero processing fee, reducing financial burden on applicants.
  • Loan utilization for various business-related purposes.
  • Financial stability and self-reliance for street vendors.
  • One-year repayment period for loan, providing flexibility.
  • Creation of employment opportunities and entrepreneurship promotion.
  • National-level implementation accessible to street vendors across all States and Union Territories.

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Required Documents

  • Certificate of Vending / Identity Card
  • Letter of Recommendation (if applicable)
  • KYC documents (Aadhaar Card, Voter Identity Card, etc.)
  • Proof of savings account
  • Income sources information

How to Apply

Online:

  • Pm svanidhi login with mobile number and captcha, request OTP.
  • Select vendor category and enter Survey Reference Number (SRN).
  • Fill application form online, upload relevant documents, and submit.

Offline:

  • Visit the nearest government bank.
  • Collect application form and fill it with necessary details.
  • Attach required documents.
  • Submit the form and documents for scrutiny.
  • Upon approval, receive pm svanidhi loan amount.

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Contact Details

  • Toll-free helpline: 1800 11 1979,
  • Mon-Sat, 9:30 AM – 6:00 PM (excluding national holidays).

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