Every year, many schemes are launched to bring changes in society and provide equality to every citizen of India. During the COVID-19 pandemic, the PM Streets Vendor’s Atma Nirbhar Nidhi (SVANidhi) scheme was introduced in June 2020 to provide monetary assistance to street food vendors and market stalls, as well as hawkers. This blog post will discuss the PM SVANidhi scheme, its key features, and its benefits. 

What is PM SVANidhi Yojana?

PM SVANidhi yojana or scheme is the initiative implemented by the housing and urban affairs ministry. This initiative was launched on June 01, 2020. The full structure is PM Street Vendor’s AtmaNirbhar Nidhi. This scheme’s main focus area is street vendors, making them Atma Nirbhar or independent. 

Previously, the scheme was part of the Economic stimulus under Atma Nirbhar Bharat Abhiyan (ABA). This scheme was launched to make small and micro vendors self-dependent and free from any debt.

Main beneficiaries include – This scheme applies to some vendors only like – apparel, barbers show, laundry services, artisan, and hawkers. Many financial institutions also collaborated with this scheme, like microfinance institutions, NBFC (Non-Banking Financial Company), and many SHGs (Self Help Groups). People can use this loan to build up the funds and keep their enterprises afloat.

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What are the features of the PM SVANidhi Scheme?

The progressive lockdowns in India because of the pandemic have antagonistically impacted the occupation of road sellers. Considering this, the Ministry of Housing and Urban Affairs sent off a PM SVANidhi conspire to offer a comprehensive turn of events and financial upliftment for sellers and road merchants.

Some features make this scheme more beneficial for vendors or street sellers –

● This is not a medium-based scheme. Instead, it is a central government-based scheme, as it is completely funded and maintained by the central government.

● This scheme has some validity, which means street sellers or vendors can benefit from this crucial scheme until March 2022. After that, it vanished.

● This yojana or government scheme provides an opportunity to get Rs.10,000 as a collateral-free loan, which means the applicant doesn’t need to provide a guarantee.

● If the applicant repays the loan amount on time, they get subsidies as a reward from the central government.

Apart from features, there are some Objectives for which this scheme was launched –

● It offers monetary help through working capital advances of up to ₹10,000 at a lower loan fee.

● This plan’s targets likewise express that sellers are responsible for getting impetuses on ordinary reimbursement of advance sums.

● Aside from knowing the highlights and targets, people could likewise think about picking up on the PM SVANidhi Yojana online application and its subtleties.

Also Read: Top Facts About PMRY Loan

What benefits do users get from PM SVANidhi Scheme? 

Here in this part, we will discuss the advantages of the SVANidhi plot –

  1. Collateral free loan

The sum of the amount is Rs.10,000, which is collateral-free or doesn’t require any security to avail of the loan amount. Applicants get a chance of getting a large amount of loan in timely payment. 

For example, Suppose the applicant paid all the loan installments within the time period, then when they took out the loan next time, they also have an option for a large amount.

  • Interest subsidy

Merchants that take out a working credit loan through the PM vendor program are liable for a 7% interest rebate. Debtors will be paid this amount every quarter. This interest subsidy will last until March 31, 2022.

  • Hassle-free application process

Generally, applying for any loan is a daunting task, but the central government provides a hassle-free process for applying for this loan scheme. Users need to visit the official website of SVANidhi yojana and submit the required details to get this loan.

  • Cashback incentives

Users who choose digital transactions can benefit from reward offers. Vendors can adopt digital procedures with the support of a large network of leading or trusted banks and digital payment providers.

  • Easy to check loan status

This central government yojana also provides you the access to check your loan application status online on the official website of this scheme. The user needs to enter their login id and password, which they get while applying for this loan. Anyone can check their loan application status from anywhere within just a couple of minutes through their login credentials.

Also Read: Everything You Wanted To Know About PMEGP Loan

How to apply for PM SVANidhi Yojana?

To apply for an SVANidhi scheme loan, users need to follow some instructions. Here are some steps. By following them, you can easily apply for the SVANidhi yojana –

● Applicants first need to explore the official website for loan application and eligibility criteria.

● Now tap on the option “Apply for a loan” through this, applicant easily fills in their details online.

● Now insert your correct mobile number & captcha code.

● Choose your category and fill in the other relevant details.

● After completing all steps, it’s time to apply by clicking on the “submit” tab.

Documents required for PM SVANidhi Yojana

● Vendors may be required to submit the following papers when enrolling for PM SVANidhi Yojana digitally to get a securities loan.

● Applicants must submit their Certificate of vendor or any ID card provided by LOR or ULBs. LOR is a ‘Letter of Recommendation, as this is approved and provided by municipalities.

● Apart from the vendor certificate, the applicant must submit the documents mentioned below – Voter card, MNREGA card, PAN card, Aadhaar card, and Driving license.

After successfully providing the above documentation, you can apply online for such a PM SVANidhi initiative.

Also Read: Know How PMKVY Can Help You To Start Your Own Business?


Pradhan Mantri SVANidhi scheme is the best scheme for small vendors like street vendors, stalls, artisans, and many more. You’ve probably figured out that the PM SVANidhi scheme provides various benefits to Indian vendors, “thelewala,” and hawkers. As a result, skimming through the item mentioned above can be beneficial to them because it contains important data for a successful application.


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