About this business scheme
PM SVANidhi is a micro-credit scheme launched on 1st June 2020 by the MoHUA to provide handholding support to street vendors. The scheme facilitates a working capital collateral-free loan of Rs. 10,000, with subsequent loans of Rs. 20,000 and Rs. 50,000 with a 7% interest subsidy.
The scheme "PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)" by the Ministry of Housing and Urban Affairs, Government of India aims to formalize street vendors and enhance their economic opportunities through providing collateral-free working capital loans, interest subsidy, and digital transaction incentives to street vendors. It was launched on 1st June 2020 as a central sector scheme. The scheme supports vendors in restarting and expanding their businesses. It also promotes digital payments to increase financial inclusion. Street vendors include hawkers, thelewala, rehriwala, and others engaged in small-scale vending activities.
The scheme aims to formalize the street vendors and open up new opportunities for this sector to move up the economic ladder. Street vendors represent a very important constituent of the urban informal economy and play a significant role in ensuring availability of the goods and services at affordable rates at the doorstep of the city dwellers. They are known as vendors, hawkers, thelewala, rehriwala, theliphadwala, etc. in different areas/ contexts. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, bread, eggs, textile, apparel, footwear, artisan products, books/ stationary, etc. The services include barber shops, cobblers, pan shops, laundry services, etc.
Benefits at a glance
| Scheme name | PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) (PM SVANIDHI) |
|---|---|
| Launched by | Ministry Of Housing & Urban Affairs |
| Launch year | 2020 |
| Benefit type | Cash (money paid to your bank account) |
| Category | Business |
| Level / State | Central · All India |
| Official portal | pmsvanidhi.mohua.gov.in (see References at the end) |
Key facts
| Scheme type | Central Sector Scheme |
|---|---|
| Implementing agency | Urban Local Bodies (ULBs) And Town Vending Committees (TVCs) |
| Scheme for | Individual |
| Application mode | Online / Offline |
| Last date | Not given in the official listing |
| DBT (direct bank transfer) | Yes |
Who can apply (quick check)
- 👤All genders
- 🎂Age 18 to 80 years
- 💼Unorganized Worker, Street Vendor
- 📝Online / Offline
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
Working Capital Loan:
- 1st Tranche: Loan up to Rs. 15,000/-; repayment within 12 months.
- 2nd Tranche: Loan up to Rs. 25,000/-; repayment within 18 months.
- 3rd Tranche: Loan up to Rs. 50,000/-; repayment within 36 months.
- Next tranche available on timely or early repayment.
- No prepayment penalty on early repayment.
Interest Subsidy:
- Subsidy at 7% per annum on loan amount.
- Credited quarterly to beneficiary’s bank account.
- Applicable only for standard (non-NPA) accounts.
- Valid up to 31st March 2033.
Digital Transaction Cashback:
- Cashback up to Rs. 100/- per month for digital transactions.
Credit Guarantee Support:
- 31.87% guarantee cover for 1st tranche loan.
- 8.25% guarantee cover for 2nd tranche loan.
- 6% guarantee cover for 3rd tranche loan.
- No charges for lending institutions.
UPI Linked RuPay Credit Card:
- Initial credit limit of Rs. 10,000/-; extendable up to Rs. 30,000/-.
- Validity of 5 years.
- Available after successful repayment of 2nd tranche loan.
Who qualifies
- Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs).
- The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card.
- Street Vendors left out of the ULB-led identification survey or who have started vending after completion of the survey and have been issued a Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC).
- The vendors of surrounding development/ peri-urban/rural areas vending in the geographical limits of the ULBs, who have been issued a Letter of Recommendation (LoR) to that effect by the ULB / TVC.
Who is not eligible
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Papers to keep ready
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For 1st Loan :
For Category A and B vendors:
For Category C and D vendors:
KYC documents required in addition to CoV/ID/LoR :
For Letter of Recommendation :
For Second Loan
Registration walkthrough
Online
Step 1: Visit https://pmsvanidhi.mohua.gov.in/ and click on the "Log In" button on the homepage.
Step 2: Enter Mobile number and captcha. Click request OTP.
Step 3: After successful login, select valid "vendor category" among the available options. Enter "Survey Reference Number" (SRN) which is mandatory.
Step 4: On entering these basic details, fill the application form online, upload the relevant documents and submit.
Note:
- For any kind of clarification and access detailed stepwise process, refer User Manual.
- For any query one can call on the toll free number i.e 1800111979 between 9.30 AM to 6.00 PM on Monday to Saturday except national holidays.
- Contact Details: Click here.
Offline
Step 1: Understand the information documents required to fill out the Loan application form (LAF) for the Scheme.
Step 2: Keep all the information ready before you start the application process.
Step 3: Ensure the mobile phone is linked to the Aadhaar number.
Step 4: This will be required for e-KYC/Aadhaar validation during online application process.
Step 5: It will also help you to get a letter of Recommendation from ULB (in case required).
Step 6: It will also help you avail future benefits under Government welfare schemes.
Step 7: Check your eligibility status as per the scheme Rules.
Step 8: One will fall in one of the 4 categories of Street vendors.
Step 9: Check your status and the documents/ information that you need to keep ready.
Important dates
| Launch / start | 01 Jun 2020 |
|---|
Terms used in this scheme
- Vendor
A vendor, under this scheme, is any person engaged in vending 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, bread, eggs, textile, apparel, artisan products, books/ stationary, etc. and the services include barber shops, cobblers, pan shops, laundry services, etc.
Frequently asked questions
What is PM SVANidhi Scheme?
The PM Street Vendor’s AtmaNirbhar Nidhi scheme is a government initiative aimed at providing financial assistance to street vendors affected by the COVID-19 pandemic.
Who is eligible to apply for the PM SVANidhi Scheme?
Street vendors who have been operating their business for at least one year prior to March 24, 2020, and have been in possession of a valid ID proof are eligible to apply for the scheme.
What is the age limit to apply for the PM SVANidhi Scheme?
There is no age limit to apply for the PM Street Vendor’s AtmaNirbhar Nidhi scheme.
What is the maximum loan amount that can be availed under this scheme?
Street vendors can avail of a working capital loan of up to Rs. 10,000 under the PM Street Vendor’s AtmaNirbhar Nidhi scheme.
What is the interest rate on the loan provided under this scheme?
The interest rate on the loan provided under this scheme is 7%.
How can one apply for the PM SVANidhi Scheme?
Applicants can apply for the scheme online through the official website of their respective State or Union Territory.
Is there any processing fee to apply for the PM SVANidhi Scheme?
A: No, there is no processing fee to apply for the PM Street Vendor’s AtmaNirbhar Nidhi scheme.
What documents are required to apply for the PM SVANidhi Scheme?
A: Applicants need to provide a valid ID proof, a certificate of vending/registration, and a recent photograph to apply for the scheme.
Can an individual apply for the PM SVANidhi Scheme multiple times?
A: No, an individual can apply for the scheme only once.
Can an individual apply for the scheme if they have availed of a loan under any other government scheme?
Yes, an individual can apply for the scheme even if they have availed of a loan under any other government scheme.
What is the repayment period for the loan provided under this scheme?
The loan provided under this scheme has to be repaid within one year of availing it.
Is collateral required to avail of the loan under this scheme?
No, collateral is not required to avail of the loan under the PM Street Vendor’s AtmaNirbhar Nidhi scheme.
Can the loan amount be used for any purpose related to the street vending business?
Yes, the loan amount can be used for any purpose related to the street vending business.
What is the benefit of availing of the loan under this scheme?
The loan provided under this scheme can be used to restart or expand the street vending business, thereby providing financial stability to the street vendor.
What is the repayment mode for the loan provided under this scheme?
The loan provided under this scheme has to be repaid in monthly installments.
References and official sources
Apply only on the official portal. Nothing is applied for on this site, and applying is free.
- Guidelines pmsvanidhi.mohua.gov.in
- FAQs (PDF) mohua.gov.in
- Offline Application Form pmsvanidhi.mohua.gov.in
- Check Application Status pmsvanidhi.mohua.gov.in
- User Manuals For Applicant pmsvanidhi.mohua.gov.in
- Pre-Application Steps pmsvanidhi.mohua.gov.in
- Helpdesk pmsvanidhi.mohua.gov.in
- Application Submission/Log In pmsvanidhi.mohua.gov.in
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