The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme till March 31, 2030, with a total financial outlay of ₹7,332 crore. This decision aims to benefit 1.15 crore beneficiaries, including 50 lakh new street vendors, according to an official release.

The implementation will be jointly managed by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS). While MoHUA will oversee overall operations, DFS will facilitate access to loans and credit cards through banks and financial institutions.

The restructured scheme introduces several key enhancements. The first tranche loan limit has been increased from ₹10,000 to ₹15,000, and the second tranche from ₹20,000 to ₹25,000, while the third tranche remains at ₹50,000. Additionally, street vendors repaying the second loan will be eligible for a UPI-linked RuPay Credit Card to ensure easy access to credit for business or personal needs.

To encourage digital transactions, vendors can earn cashback incentives of up to ₹1,600 on retail and wholesale purchases. The scheme will gradually expand beyond statutory towns to census towns and peri-urban areas. It also includes capacity-building programs focused on entrepreneurship, digital skills, financial literacy, and marketing. Street food vendors will receive hygiene and food safety training in collaboration with FSSAI.

Initially launched on June 1, 2020, to support vendors impacted by the COVID-19 pandemic, the PM SVANidhi Scheme has since become a tool for financial empowerment and formal recognition of street vendors’ contributions to the economy.

As of July 30, 2025, over 96 lakh loans worth ₹13,797 crore have been disbursed to 68 lakh beneficiaries. Nearly 47 lakh vendors have actively used digital payments, completing 557 crore transactions worth ₹6.09 lakh crore and earning cashback of ₹241 crore. Under the ‘SVANidhi se Samriddhi’ initiative, 46 lakh vendors have been profiled across 3,564 Urban Local Bodies, resulting in over 1.38 crore scheme sanctions.