PM SVANidhi Scheme

On 26th August, 2021, the Reserve Bank decided to include street vendors identified as part of the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier2 centres as beneficiaries under the Payments Infrastructure Development Fund (PIDF) Scheme.

As hitherto, the street vendors in tier-3 to tier-6 centres will continue to be covered under the Scheme.

Impact

  • This decision to expand the targeted beneficiaries under the PIDF scheme will provide fillip to the Reserve Bank’s efforts towards promoting digital transactions at the grass root level

About Payments Infrastructure Development Fund (PIDF) Scheme

  • Announced in January, 2021, it is a ....
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