PM SVANidhi Credit Card.. New Credit Support for Street Vendors

The Central Government has restructured the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme to expand access to formal credit for urban street vendors. Under the revised scheme, eligible vendors who successfully repay the second loan tranche can access a UPI-linked RuPay Credit Card with a credit limit of up to ₹30,000. The scheme is intended to provide easier access to formal credit and support vendors in meeting their business-related financial needs.

The working capital loan structure has also been enhanced. Eligible vendors can receive collateral-free loans of up to ₹15,000 in the first tranche, ₹25,000 in the second tranche and ₹50,000 in the third tranche, subject to repayment of earlier loans. The scheme also provides a 7% interest subsidy for timely repayment and cashback incentives for eligible digital transactions. The lending period has been extended until March 2030.