The Government of India introduced new updates under the PM SVANidhi Scheme 2025. The PM SVANidhi Scheme 2025 was first introduced by the central government of India in 2020 to provide financial assistance to the selected citizens of India. During the presentation of the union budget by the finance minister of India Mrs Nirmala Sitharaman announced to revamp of the PM SVANidhi Scheme. All the citizens who have applied for the scheme will now receive the enhanced financial assistance and other benefits introduced by the finance minister of India. All the citizens of India who want to avail the benefits of the new PM SVANidhi Scheme 2025 are requested to visit the official website.
What is PM SVANidhi Scheme?
The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is a micro-credit scheme launched by the central government of India to help the citizens. Under this scheme, the Government of India will provide financial assistance to the citizens who are working as a street vendor. The Ministry of Housing and Urban Affairs (MoHUA) is the nodal department that administrates the working of the PM SVANidhi Scheme. Under this scheme, the beneficiaries will receive a working capital collateral-free loan of โน10,000, with subsequent loans of โน20,000 and โน50,000 with a 7% interest subsidy.
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Helpful Summary of PM SVANidhi Scheme
| Key Highlights | Details |
| Name of the Scheme | PM SVANidhi Scheme |
| Launched By | Government of India |
| Launch Date | February 2025 |
| Announced By | Finance Minister of India |
| Purpose | Provide Financial assistance |
| Beneficiaries | Citizens of India |
| Target Beneficiaries | Citizens working as street vendors |
| Advantage | Financial assistance of INR 10000 |
| Eligibility Criteria | Citizens working as street vendors |
| Required Documents | Aadhaar Card, Bank account |
| Application Process | Online |
| Official Website | ย https://pmsvanidhi.mohua.gov.in/ |
| Expected Benefits | INR 10,000 |
PM SVANidhi Scheme New Update
During the presentation of the union budget, the finance minister of India Mrs Nirmala Sitaraman announced new updates under the PM SVANidhi Scheme. According to the information, the finance minister has enhanced the loan amount under the scheme. Along with enhancing the loan amount the beneficiaries will also receive UPI-linked credit cards with a limit of INR 30,000. The authorities have announced that a total of 68 lakh Street vendors will receive the benefits of the new updates under this scheme.
Objective of PM SVANidhi Scheme
The main objective of launching the PM SVANidhi Scheme is to uplift the social status and standard of living of all the financially unstable citizens of India working as a street vendor. With the help of this scheme, the Government of India will provide financial assistance to the beneficiaries allowing them to carry out their expenses without any financial trouble. The beneficiaries can use the loan amount to enhance their business as a street vendor. This scheme will open up new opportunities for the citizens working as a street vendor.
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UPI Linked Credit Cards Under PM Svanidhi
All the beneficiaries who are selected under the scheme will receive a UPI-linked credit card from the Government of India. The UPI-linked credit card will allow the beneficiaries to withdraw money or make online transactions easily. The limit under the UPI Linked Credit Cards is INR 30,000. With the help of this facility, the beneficiaries can also learn about UPI transactions and how to use credit cards.
Eligibility Criteria
- Street vendors in possession of Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs).
- For the vendors, who have been identified in the survey but have not been issued a Certificate of Vending/Identity Card; a Provisional Certificate of Vending would be generated for such vendors through an IT-based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month.
- Street Vendors, left out of the ULBled identification survey or who have started vending after completion of the survey and have been issued a Letter of Recommendation (LoR) to that effect by the ULB/Town Vending Committee (TVC).
- The vendors of surrounding development/peri-urban/rural areas vending in the geographical limits of the ULBs and have been issued a Letter of Recommendation (LoR) to that effect by the ULB/TVC.
New Vs Previous Benefits Under SVANidhi Scheme
The key difference between the new and the previous benefits of the PM SVANidhi Scheme lies primarily in the use of digital transactions and cashback incentives. The newer version offers a smaller cashback amount per transaction but with the potential for a higher overall monthly cashback limit compared to the earlier structure. The core benefits of the scheme like the interest subsidy of 7% on timely loan payment and initial working capital loan of in art 10000 remain the same across both versions of the scheme.
Required Documents
- Aadhar card
- Ration card
- Bank account details
- Other necessary documents
Number of Beneficiaries
- According to the information a total of 68 lakh beneficiaries will be selected under the PM SVANidhi Scheme 2025.
Salient Feaures
- Financial assistance: Financial assistance in the form of a loan will be given to the selected beneficiaries.
- UPI-linked card: Under the new update, the beneficiaries will also receive a UPI-linked credit card to carry out online transactions.
- Amount limit: Under the UPI-linked credit card the amount limit is INR 30000 for all the beneficiaries.
- Beneficiaries: A total of 68 lakh beneficiaries will be selected under the PM SVANidhi Scheme 2025.
How to PM SVANidhi Scheme Benefits
STEP 1: All the farmers of India who want to avail the benefits of this PM SVANidhi Scheme Benefits are requested to visit the official website.
STEP 2: Once the farmers reach the homepage of the official website they must locate and click on the option called โapply nowโ.
STEP 3: A new page will appear on your desktop screen the farmers must enter all the details that are asked and attach the necessary documents.
STEP 4: After entering the details the farmers must quickly review it and click on the option submit to complete their process.
Helpline Number
- Phone No:- 1800 11 1979
FAQs
Who is eligible to available the benefits of the PM SVANidhi Scheme 2025?
All the citizens working as street vendors are eligible to avail the benefits of the PM SVANidhi Scheme 2025.
What are the new benefits under the PM SVANidhi Scheme 2025?
For the new benefits, the beneficiaries will receive a UPI-linked credit card with a limit of INR 30,000.
When were the new updates announced?
The new updates under the PM SVANidhi Scheme 2025 was announced on 1st February 2025.