PM SVANidhi

The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoodsthat have been adversely affected due to Covid-19 lockdown.

This scheme was introduced to help the street vendors and small shops facing loss in business due to Kovid 19 lockdown. Those who run shops on the road side carts or street vendors, those who install fruit-vegetables, laundries, salons and paan shops can also take loans under PM Swanidhi. However, the condition for this is that the vendors are vending on or before 24 March 2020.

Target beneficiaries

This scheme targets to benefit over 50 lakh Street Vendors.

A vendor, according to the scheme guidelines is any person engaged in vending of articles, goods, wares, food items or merchandise of daily use or offering services to the public in a street, footpath, pavement etc., from a temporary built up structure or by moving from place to place. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, artisan products, books/ stationary etc. and the services include barber shops, cobblers, pan shops, laundry services etc.

To avail the loan, a vendor should

• Possess Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
• The vendors, who have been identified in the survey of street vendors but have not been issued Certificate of Vending / Identity Card;
• In case a vendor is left out of the survey, he/she need to produce one of the following documents to obtain the Letter of Recommendation (LoR) from Urban Local Bodies /TVC:
  • Documents of past loan taken from a bank/ NBFC/ MFI for the purpose of vending; or
  • Membership details, If member of street vendors’ association like NASVI, NHF, SEWA etc.; or
  • Any other documents to prove that s/he is a vendor;
  • The vendor can also request ULB through a simple application on white paper to conduct local enquiry to ascertain the genuineness of his/her claim for receipt of LoR.
• KYC document needed : Aadhaar Card / Voter’s Identity Card / Driving Licence / MNREGA Card / PAN Card.

To check if your name is present in the survey of street vendors, click here.

Scheme Benefits

• Vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year.
• On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis.
• There will be no penalty on early repayment of loan.
• The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month.
• The vendors can avail the facility of escalation of the credit limit on timely/ early repayment of loan.

Implementation agency

Small Industries Development Bank of India (SIDBI)

Online application

To apply online, click here.

Whom to contact

Your nearest Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Bank, Non-Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs) and SHG Banks.