The PM-SVANidhi scheme, initiated in June 2020, has significantly impacted street vendors in India by providing collateral-free loans and enhancing their financial stability. Recent assessments indicate that the average income of participating vendors has risen by 20%, while digital transactions have surged from 43% to over 83% within two years. The scheme has disbursed 1.05 crore loans amounting to ₹17,800 crore, with 51.84 lakh loans specifically benefiting women vendors. The repayment default rate remains low, attributed to health-related issues or business disruptions. As vendors repay their loans, they build credit histories, enabling them to access further loans from other financial institutions. Approximately 40% of these vendors have already transitioned to borrowing from banks outside the scheme, creating a permanent credit footprint. The scheme has been adjusted to be more vendor-friendly, increasing the initial loan tranche from ₹10,000 to ₹15,000 and aiming to disburse 1.5 crore loans given the informal sector's significant workforce.