PM SVANidhi
Overview
The Ministry of Housing and Urban Affairs launched the PM SVANidhi Scheme in June 2020 and extended till December 2024 to support urban street vendors affected during the COVID-19 pandemic. The scheme provides collateral-free working capital loans to street vendors to restart and expand their businesses.
Since September 2025, the scheme has been restructured and extended till March 2030, incorporating newer components such as inclusion of peri-urban areas (census towns), credit card facility up to Rs.30,000 for 2nd loan completed applicants, development of Street Food Hubs as global destinations, etc.
Maharashtra has consistently been one of the top-performing states under this scheme. The restructured scheme is being implemented in Maharashtra vide the Government Resolution No. PMSVANIDHI-2025/Pra.Kra.491/UD-20 dated 22 April 2026.
In Maharashtra, the scheme is implemented through Urban Local Bodies (ULBs) i.e. Municipal Corporations, Municipal Councils and Nagar Panchayats, under the guidance of Urban Development Department. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides the underlying security for PM SVANidhi loans.
The scheme focuses on:
- Financial inclusion of street vendors
- Access to formal banking system
- Promotion of digital transactions
- Livelihood enhancement
- Social security linkage
Loan Structure
| Loan Cycle | Loan Amount |
|---|---|
| First Loan | Up to ₹15,000 |
| Second Loan | Up to ₹25,000 |
| Third Loan | Up to ₹50,000 |
Timely repayment of the previous loan is mandatory for the next loan eligibility.
Scheme Details
| Component | Details |
|---|---|
| Scheme Name | PM SVANidhi (Prime Minister Street Vendor’s AtmaNirbhar Nidhi) |
| Launch Date | Initially launched in June 2020, the scheme has been restructured since September 2025, adding new components such as inclusion of peri-urban areas, credit cards for 2nd Loan completed vendors, etc. |
| Ministry | Ministry of Housing and Urban Affairs (MoHUA), Government of India |
| Applicable Area | Urban Areas including Municipal Corporations, Municipal Councils and Nagar Panchayats |
| Nature of Assistance | Collateral-Free Working Capital Loan |
| Target Beneficiaries | Street Vendors |
| Interest Subsidy | 7% per annum on timely repayment |
| Digital Transaction Incentive | Cashback up to ₹100 per month |
| Loan Enhancement | Eligible for higher loans after successful repayment |
Who is the Beneficiary?
The following street vendors are eligible under PM SVANidhi Scheme:
- Street vendors operating in urban areas
- Vendors having Certificate of Vending (CoV)
- Vendors possessing Identity Card issued by Urban Local Bodies
- Vendors identified in ULB survey
- Vendors having Letter of Recommendation (LoR) from ULB/Town Vending Committee
Eligibility Conditions
- Vendor should be operating business in urban area
- Aadhaar Card and mobile number required
- Bank account required
- Applicant should belong to urban local body jurisdiction
How to Apply
Application Process
The application process is designed to be user-friendly and can be completed through several channels:
- Online Portal: Apply directly through the official PM SVANidhi Portal.
- Mobile App: Download the PM SVANidhi Mobile App from the Google Play Store for easy registration.
- Common Service Centres (CSCs): Visit the nearest CSC or Digital Seva Kendra for assisted filing.
- ULB Offices: Visit the local Municipal Corporation, Municipal Council, or Nagar Panchayat office in Maharashtra.
- Banking Correspondents (BCs): Approach agents of scheduled commercial banks or Microfinance Institutions (MFIs).
Required Documents
To ensure a smooth application, vendors need to keep the following documents ready:
- Identity Proof: Aadhaar Card (Mandatory)
- Vending Proof: Certificate of Vending (CoV) OR ID Card issued by ULBs OR Letter of Recommendation (LoR)
- Contact Information: Mobile number linked with Aadhaar
- Banking Details: Bank Passbook or Cancelled Cheque (for account number and IFSC)
- Address Proof: Voter ID, Ration Card, or Electricity Bill (if address differs from Aadhaar)
Benefits of PM SVANidhi Scheme
Financial Benefits
- Collateral-free loans
- Easy access to formal credit
- Interest subsidy
Digital Benefits
- Cashback incentives on digital transactions
- QR code-based payment promotion
- Financial literacy and digital inclusion
Social Benefits
- Improved livelihood opportunities
- Financial empowerment of street vendors
- Support for self-employment
Progressive Credit Support
- Higher loan eligibility after successful repayment
- Credit history creation for future banking support
Operational Guidelines
- Loan amount should be used only for vending/business purpose
- Beneficiary must repay installments regularly
- Timely repayment ensures eligibility for higher loan
- Digital transactions should be encouraged
- ULB verification is mandatory
Objectives of the Scheme
- To provide affordable working capital loans to street vendors
- To promote self-reliance among urban poor
- To encourage digital economy participation
- To strengthen urban livelihoods
- To bring street vendors into formal financial system
Guideline
| Sr.No | Title | Date | Expiry Day | Size | Action |
|---|---|---|---|---|---|
| 1 | PM SVANidhi GR | - |