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 scheme was introduced to provide financial and handholding support to street vendors across India, especially those affected by the COVID-19 pandemic.
Street vendors are an essential part of the urban informal economy. They ensure the availability of affordable goods and services at the doorstep of city residents. Through this scheme, the Government aims to strengthen their financial stability and help them move toward self-reliance.
Objective of the Scheme
The primary objective of PM SVANidhi is to formalize street vendors and open new economic opportunities for them. Street vendors play a crucial role in urban life. They are commonly known as vendors, hawkers, thelewala, rehriwala, and other local names depending on the region.
They supply a wide range of goods such as:
- Vegetables and fruits
- Ready-to-eat street food
- Tea, pakodas, bread, and eggs
- Textile, apparel, and footwear
- Artisan products
- Books and stationery
They also provide essential services such as:
- Barber services
- Cobbler services
- Pan shops
- Laundry services
Recognizing their contribution, the scheme aims to provide financial assistance and encourage digital transactions among vendors.
Key Benefits of PM SVANidhi
The scheme offers several financial benefits to eligible street vendors:
1. Working Capital Loan
Eligible vendors can avail of a collateral-free working capital loan of up to ₹10,000 for the first cycle.
2. Subsequent Loans
After timely repayment of the first loan, vendors can access higher loan amounts of ₹20,000 and later ₹50,000.
3. Interest Subsidy
A 7% interest subsidy is provided on timely repayment of the loan, reducing the financial burden.
4. No Collateral and No Processing Fee
The loan is completely collateral-free, and there is no processing fee, making it highly accessible.
5. One-Year Repayment Period
The repayment tenure is one year, allowing sufficient time for vendors to manage their finances.
6. Digital Transaction Incentive
To promote digital payments, vendors can receive cashback of up to ₹100 per month for adopting digital transactions.
7. Financial Stability and Entrepreneurship
The scheme supports business expansion, helps vendors restart their operations, and encourages entrepreneurship and employment generation.
Eligibility Criteria
A person can apply under PM SVANidhi if they fall into any of the following categories:
- Street vendors possessing a Certificate of Vending or Identity Card issued by Urban Local Bodies (ULBs).
- Vendors identified in the survey but not yet issued a Certificate of Vending or Identity Card.
- Vendors left out of the ULB-led identification survey or those who started vending after the survey and have been issued a Letter of Recommendation (LoR) by the ULB or Town Vending Committee (TVC).
- Vendors from surrounding peri-urban or rural areas who operate within ULB limits and have been issued a Letter of Recommendation.
Online Application Process
The online application process is simple and structured:
- Visit the official PM SVANidhi portal.
- Click on the “Log In” button on the homepage.
- Enter your mobile number and captcha, then request OTP.
- After successful login, select the appropriate vendor category.
- Enter the Survey Reference Number (SRN), which is mandatory.
- Fill out the application form, upload the required documents, and submit.
Offline Application Process
Applicants can also apply offline by filling out the Loan Application Form (LAF). Before applying:
- Keep all necessary information and documents ready.
- Ensure that your mobile number is linked to your Aadhaar for e-KYC and validation.
- Check your eligibility status as per scheme rules.
Documents Required
For the First Loan:
Category A and B Vendors:
- Certificate of Vending
- Identity Card
Category C and D Vendors:
- Letter of Recommendation
Additional KYC Documents:
- Aadhaar Card
- Voter Identity Card
- Driving License
- MNREGA Card
- PAN Card
For the Second Loan:
- Loan Closure Document
Helpline Support
For any clarification or assistance, applicants can contact the toll-free number 1800111979 between 9:30 AM and 6:00 PM, Monday to Saturday (except national holidays).
Disclaimer
This article is written solely based on the official information provided about the PM SVANidhi scheme. It is intended for informational purposes only. Applicants are advised to verify all details, eligibility conditions, and procedures from the official PM SVANidhi portal or authorized government sources before applying. The author does not represent any government authority and is not responsible for changes in rules, policies, or implementation guidelines.