PM SVANidhi scheme expanded to cover more street vendors
The government just expanded its PM SVANidhi scheme, bringing in 50 lakh additional street vendors who can now get easier access to working capital loans.
The loan amounts have been bumped up too: first and second-term loans are now ₹15,000 and ₹25,000 (up from ₹10,000 and ₹20,000), while the third-term loan stays at ₹50,000 with a 7% interest subsidy available to beneficiaries.
UPI-linked credit cards for vendors who've repaid loans
Here's what's cool: about 11 lakh vendors who've repaid their earlier loans can now get UPI-linked credit cards with limits up to ₹30,000—making it way easier to manage cash flow.
Since launch, over 68 lakh vendors have benefited from the scheme (with more than half repaying on time).
The push for digital payments means better chances at building a solid credit history—helping street vendors become more financially included and resilient in the long run.