how to apply pm savdhani yojana

After the Modi government came to power for the third time in the country, the Center has implemented a new scheme to help the poor and middle class people, as well as the poor, small and petty traders, as well as street vendors and those who make a living by selling goods on the footpaths. PM Street Vendors Atmanirbhar Nidhi (PM SVANidhi) named after Pradhan Mantri SVANidhi: The Modi government is constantly encouraging the entrepreneurial spirit among people at every level across India.
It is implementing many schemes and programs to foster and encourage the entrepreneurial spirit and provide necessary financial support when needed.
A scheme that benefits the lower class people..
The main objective of this scheme is to empower street vendors. The main objective of this scheme is to support footpath vendors and street vendors. The Modi government is implementing a micro-credit scheme for street vendors called PM SVANidhi or PM Street Vendors Atmanirbhar Nidhi.
Budget allocation..
In 2025, Union Finance Minister Nirmala Sitharaman said in her Union Budget that the PM SVANidhi scheme has benefited over 68 lakh street vendors and will provide them relief from high-interest informal sector loans.

how to apply pm savdhani yojana

What is PM SVANidhi?
Launched by the Ministry of Housing & Urban Affairs on June 1, 2020 during the Covid 19 pandemic, the scheme aims to provide financial assistance to street vendors at a subsidized rate
ranging from Rs 10,000 to Rs 50,000..
It provides unsecured working capital loans of Rs 10,000, Rs 20,000 and Rs 50,000. The scheme also provides cashback of up to Rs 1200 per annum on undertaking digital transactions, with an interest subsidy of 7 per cent per annum on regular repayment of the loan. Moreover, there are no early termination charges on the loans.
What are the eligibility criteria for PM SWANidhi?
PM SWANidhi scheme is available to all street vendors engaged in selling in urban areas on or before March 24, 2020
Criteria for eligibility of street vendors:
Street vendors holding vending certificate/identity card issued by Urban Local Bodies (ULBs)
Vendors identified in the survey but not issued vending certificate/identity card; Temporary vending certificate will be generated for such vendors through IT based platform. ULBs are encouraged to issue permanent vending certificate and identity card to such vendors immediately and within a period of one month
Street vendors who have been removed from the ULBled identity survey or who have started selling after the completion of the survey and who have been issued a Letter of Recommendation (LoR) to that effect by the ULB/Town Vending Committee (TVC)
Vendors from surrounding development/urban/rural areas selling within the geographical limits of ULBs and who have been issued a Letter of Recommendation (LoR) to that effect by the ULB/TVC.

how to apply pm savdhani yojana

How to apply for PM SVANidhi Scheme?
Street vendors can apply directly on the PM SVANidhi portal or through the Common Service Centre (CSC) nearest to their area.
Is PM SVANidhi closed now?
As per MoHUA orders, the loan tenure under PM SWANidhi Scheme ended on December 31, 2024. No new applications will be accepted for all loan disbursements from January 01, 2025.
However, in the budget speech, FM Sitharaman said that the scheme will be revived with better loans from banks, UPI-linked credit cards with a limit of Rs 30,000 and capacity building support.