The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a central-sector micro-credit scheme launched on 1st June 2020 by the Ministry of Housing and Urban Affairs (MoHUA). The primary objective of this scheme is to provide financial support to street vendors across India, especially those affected by the COVID-19 pandemic. It offers collateral-free working capital loans to help vendors restart and expand their businesses.
Under this scheme, eligible street vendors can avail of an initial loan of ₹10,000. Upon timely repayment, they can access subsequent loans of ₹20,000 and ₹50,000. An interest subsidy of 7% is provided, and vendors are encouraged to adopt digital transactions through a cashback incentive of up to ₹100 per month.
Aim of the Scheme
The scheme aims to formalize street vendors and help them move up the economic ladder. Street vendors are a vital part of the urban informal economy. They provide essential goods and services at affordable prices directly to city residents.
Street vendors include:
- Vegetable and fruit sellers
- Tea and street food vendors
- Textile and footwear sellers
- Barbers, cobblers, and laundry service providers
- Vendors selling books, stationery, and artisan products
By supporting these small entrepreneurs, the scheme promotes self-reliance and economic stability.
Key Benefits
The PM SVANidhi scheme offers several advantages:
- Financial assistance up to ₹10,000 (initially)
- Low interest rate with 7% interest subsidy
- No collateral required
- No processing fee
- One-year repayment period
- Cashback incentive for digital transactions
- Nationwide availability across all States and Union Territories
This scheme not only ensures financial stability but also encourages entrepreneurship and employment generation.
Eligibility Criteria
Street vendors falling under the following categories are eligible:
- Vendors with a Certificate of Vending or Identity Card issued by Urban Local Bodies (ULBs)
- Vendors identified in surveys but not yet issued certificates
- Vendors with a Letter of Recommendation (LoR) from ULB/Town Vending Committee
- Vendors from surrounding or peri-urban areas with valid LoR
Application Process (Online)
To apply online:
- Visit the official portal.
- Log in using your mobile number and OTP.
- Select your vendor category and enter the Survey Reference Number (SRN).
- Fill out the application form, upload required documents, and submit.
The Offline application is also available through the Loan Application Form (LAF) with necessary documents like Aadhaar Card, Voter ID, PAN Card, and Certificate of Vending or LoR.
Official Links
For more details and application-related services, use the following links:
- Guidelines: Download PDF
- Offline Application Form: Download PDF
- Check Application Status: Click Here
- Application Submission / Log In: Click Here
For queries, vendors can call the toll-free number 1800111979 between 9:30 AM to 6:00 PM (Monday to Saturday, except national holidays).
Disclaimer
This blog post is written based solely on the provided official document about PM SVANidhi. Applicants are advised to visit the official website or contact the concerned authorities for the most accurate and updated information before applying.