Six Years of PM Svanidhi Scheme
On 1st June 2026, the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme completed six years of public implementation since its initial launch in June 2020.
What was the Rationale behind Launching PM SVANidhi?
- Street vendors are an integral part of India’s urban economy.
- Despite their significant contribution, most street vendors had limited access to formal credit and depended on informal lenders charging high interest rates.
- To address these challenges, the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched in June 2020 as a first-of-its-kind micro-credit scheme with government-backed credit guarantee support.
- The scheme aims to promote “Swarozgar, Svavlamban ....
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