PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), the flagship micro-credit scheme of the Ministry of Housing and Urban Affairs (MoHUA), has completed six years of supporting street vendors through affordable credit, digital inclusion, and social security benefits. The milestone was marked in Agartala by Union Housing and Urban Affairs Minister Manohar Lal in the presence of Tripura Chief Minister Manik Saha and beneficiaries from several North-Eastern states, including Assam, Arunachal Pradesh, Manipur, Mizoram, and Tripura.
Launched in June 2020, PM SVANidhi was designed to provide collateral-free working capital loans to street vendors affected by the COVID-19 pandemic. Over the past six years, the scheme has evolved into a major financial inclusion initiative, helping vendors access formal banking services and improve their livelihoods.
According to the government, more than 75.5 lakh street vendors have benefited under the scheme. Over 1.05 crore loans have been sanctioned, with total disbursements exceeding ₹17,800 crore. The programme has also enabled lakhs of vendors to become part of the formal economy for the first time.
Speaking at the event, Manohar Lal said the scheme was launched under the vision of Prime Minister Narendra Modi to strengthen the livelihoods of urban poor and provide street vendors with dignity, financial security, and opportunities for growth.
The scheme has had a significant impact on women vendors, with 34.81 lakh women beneficiaries and more than 51.84 lakh loans disbursed to them. Additionally, over 55 lakh vendors have been digitally onboarded, while more than 50 lakh families have been socio-economically profiled under the SVANidhi Se Samriddhi initiative.
The government also highlighted that beneficiaries have witnessed an average annual income growth of 20%, while over 30% have successfully accessed credit beyond the scheme, reflecting improved financial confidence and economic resilience.
