PM Modi Celebrates 6 Years of PM SVANidhi Scheme for Street Vendors
PM SVANidhi's 6th anniversary: PM Modi hails scheme for empowerment
Image: Asianet Newsable
On the sixth anniversary of the Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, Prime Minister Narendra Modi emphasized its role in empowering street vendors through access to collateral-free credit and financial inclusion. The initiative has disbursed over 1.12 crore loans, benefiting more than 75 lakh vendors across India.
- 01PM SVANidhi has disbursed over 1.12 crore loans totaling more than ₹17,800 crore since its launch in 2020.
- 02Approximately 95% of beneficiaries accessed formal institutional credit for the first time through this scheme.
- 03The program has a significant impact on gender inclusion, with nearly 46% of beneficiaries being women.
- 04Around 70% of beneficiaries belong to marginalized communities, showcasing the scheme's outreach.
- 05Over 55 lakh beneficiaries have been onboarded digitally, enhancing their access to financial services.
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Prime Minister Narendra Modi marked the sixth anniversary of the Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, praising its success in integrating street vendors into the formal economy. The scheme, which provides collateral-free credit, has empowered over 75 lakh vendors by facilitating access to financial resources and fostering digital adoption. Since its inception in 2020, PM SVANidhi has disbursed more than 1.12 crore loans worth over ₹17,800 crore. Notably, nearly 95% of the beneficiaries accessed formal credit for the first time under this initiative. The scheme has also made strides in gender inclusion, with 46% of beneficiaries being women and 70% belonging to marginalized communities. This reflects a broader vision of urban governance, recognizing street vendors as vital contributors to India's economic landscape.
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The PM SVANidhi scheme has significantly improved the livelihoods of street vendors in India, providing them with financial resources and opportunities for growth.
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