The central government has announced a big relief for small traders and street vendors. The duration of the Pradhan Mantri Street Vendors Atmanirbhar Nidhi,i.e.,PM SVANidhi Yojana,has now been extended to 31 March 2030. This scheme,which started during the Corona epidemic,will now give millions of small businessmen a chance to stand on their feet again by giving loans at low interest without any guarantee. Let us know about the new rules and benefits of this scheme.
What is PM Svanidhi Yojana
This scheme was started in June 2020,when the business of small traders and street vendors was badly affected due to the COVID-19 epidemic. Its main objective was to help them become self-reliant again. Often,these small businessmen need money immediately for their business,but it is not easy for them to get a loan from the bank. This scheme solves this problem of theirs by giving a loan without any guarantee.
The scheme duration and loan limit increased
On 27 August 2025,the Union Cabinet extended the duration of this scheme and made some major changes to it:
Scheme duration: Now this scheme will continue till 31 March 2030. The government has decided to spend ₹ 7,332 crore on this.
Increased loan limit:
First installment: -Now a loan of ₹ 15,000 will be available instead of ₹ 10,000.
Second installment:- A loan of ₹ 25,000 will be given instead of ₹ 20,000.
Third installment:- It will remain ₹ 50,000 as before.
All these loans will be available without any guarantee,so that small vendors will not have any problem in raising money from the bank.
Benefits of digital payment and RuPay card
Under this scheme,vendors who pay the installments on time will be given a RuPay credit card. This will enable them to easily use money for their business or other needs. Apart from this,those who adopt digital payments will also get cashback of up to ₹ 1,600. This step has been taken to promote digital transactions.
Implementation of the scheme
The scheme is being operated by the Ministry of Housing and Urban Affairs,while the loan and credit card facility is being provided by the Department of Financial Services through banks. As of July 30,2025,more than 96 lakh loans have been given to more than 68 lakh people under this scheme. This scheme is bringing a big change in the lives of small traders and empowering them financially.
