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PM Modi Celebrates Six Years of PM SVANidhi Scheme Empowering Street Vendors
'Trust, dignity, empowerment': PM Modi celebrates six years of PM SVANidhi scheme, empowers street vendors
Image: The Economic Times
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, benefiting over 75 lakh individuals and disbursing loans totaling ₹17,800 crore.
- 01The PM SVANidhi scheme 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.
- 03Nearly 46% of beneficiaries are women, demonstrating strong gender inclusion within the initiative.
- 04Around 70% of the beneficiaries belong to marginalized communities, highlighting the scheme's commitment to inclusivity.
- 05The initiative has fostered digital adoption among over 55 lakh beneficiaries, enhancing their business sustainability and earnings.
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Prime Minister Narendra Modi celebrated the sixth anniversary of the Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, which aims to empower street vendors through access to affordable, collateral-free credit. In a post on social media, he emphasized that the initiative is centered on 'trust, dignity, and empowerment.' Since its launch in 2020, the scheme has disbursed over 1.12 crore loans amounting to more than ₹17,800 crore. It has positively impacted over 75 lakh beneficiaries across India, improving their access to institutional credit and social security. Notably, nearly 95% of these beneficiaries accessed formal credit for the first time, with 46% being women and 70% from marginalized communities. The scheme has also promoted digital adoption among over 55 lakh vendors, contributing to stronger livelihoods and economic growth. PM SVANidhi reflects a shift in urban governance, recognizing street vendors as vital contributors to the economy.
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The PM SVANidhi scheme has significantly improved the livelihoods of street vendors, providing them with essential financial support and opportunities for growth.
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