New Delhi: Launched in 2020, the PM SVANidhi Scheme is a government initiative designed to give street vendors a financial boost. Under this scheme, small vendors can get easy, collateral-free working capital loans starting from Rs 10,000, with the chance to avail higher amounts of Rs 20,000 and Rs 50,000 later. The scheme not only provides affordable credit with a 7 per cent interest subsidy but also encourages vendors to adopt digital transactions, helping them grow their businesses with greater stability.

When Was the PM SVANidhi Scheme Launched?

The PM SVANidhi Scheme was introduced on June 1, 2020, by the Ministry of Housing and Urban Affairs (MoHUA) to offer financial assistance to street vendors and help them sustain their livelihoods.

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