The PM SVANidhi Scheme (Prime Minister Street Vendors Atmanirbhar Nidhi) is a government initiative that was launched on June 1, 2020. The primary objective of this initiative is to provide assistance to street vendors by facilitating easy access to working capital loans. Under this scheme, vendors can avail themselves of collateral-free loans particularly in the wake of losses incurred during the COVID-19 pandemic to either restart or expand their businesses. Furthermore, the scheme offers benefits such as interest subsidies for timely loan repayment and various incentives for digital transactions, thereby helping vendors achieve financial stability and digital self-reliance. The overarching goal of this scheme is to ensure self-reliance, financial inclusion, and sustainable livelihoods for small vendors across urban areas throughout India.
PM SVANidhi Scheme 2026 Overview - Check Application Status
- Scheme Name: Pradhan Mantri SVANidhi Scheme
- Launch Year: 2020
- Nodal Ministry: Ministry of Housing and Urban Affairs
- Target Beneficiaries: Street vendors (urban & peri-urban areas)
- Loan Type: Collateral-free working capital loan
- Scheme Duration: Extended till 31 March 2030
- Apply Mode: Online/ Offline
- Official Website: pmsvanidhi.mohua.gov.in
PM SVANidhi Scheme 2026 Loan Details
- 1st Loan: Rs.10,000 (for 1 year)
- 2nd Loan: Rs.20,000 (after repayment of 1st)
- 3rd Loan: Rs.50,000 (after repayment of 2nd)
Pradhan Mantri SVANidhi Scheme 2026 Key Benefits
No collateral required
7% interest subsidy on timely loan repayment
Up to Rs.1,200 annual cashback on digital transactions
UPI-linked RuPay Credit Card facility
Easy online application via Aadhaar-based verification
SVANidhi Scheme 2026 Eligibility
Any street vendor such as a hawker, pushcart vendor, or small shopkeeper operating in urban areas is eligible to apply under this scheme. Applicants must possess a 'Certificate of Vending' or an identity card issued by the Urban Local Body (ULB), or their name must be included in the official survey list. Vendors lacking the necessary documentation may also apply by submitting a 'Letter of Recommendation' (LOR) issued by the local authorities.
Atmanirbhar Bharat Scheme 2026 Objective
- Support small vendors financially
- Promote self-reliance (Atmanirbhar Bharat)
- Encourage digital payments
- Improve livelihoods of urban poor
PM SVANidhi Scheme 2026 Application Process
Online Application:-
To apply online for the PM SVANidhi scheme, visit the official portal and select the 'Loan' option. Enter your mobile number and verify it via OTP; subsequently, complete the Aadhaar-based e-KYC process. Next, fill in your personal details, business information, and bank account particulars. You will also need to upload the necessary documents, such as your identity proof and either a 'Certificate of Vending' or a 'Letter of Recommendation' (LOR). After submitting the form, your application is verified by the Urban Local Body and the bank; once approved, the loan amount is directly credited to your bank account.
Offline Application:-
- Visit any bank, CSC (Common Service Center), or municipal office.
- Fill out the application form and submit the necessary documents.
- Officials will assist you in completing the entire process.
PM SVANidhi Scheme 2026 - Frequently Asked Questions (FAQ)
Q1. What is the PM SVANidhi Scheme?
Answer: The PM SVANidhi Scheme is a government initiative that provides collateral-free loans to street vendors to help them restart or expand their businesses.
Q2. Is any collateral required?
Answer: No, this scheme provides loans without any collateral (security).
Q3. What is the interest benefit?
Answer: You get a 7% interest subsidy if you repay the loan on time.
Q4. How can I apply?
Answer: You can apply online through the official portal or offline via banks, CSCs, or municipal offices.
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