PM Modi's Big Gift to Street Vendors: Now Loan Without Guarantee, Scheme Extended Till 2030

The central government has taken a major decision to empower small vendors, hawkers, and roadside shopkeepers. The Prime Minister Street Vendors Atmanirbhar Nidhi Yojana (PM SVANidhi) has now been extended for another 6 years, till 2030. Earlier, the scheme was valid only till 31 December 2024.

This move will directly benefit lakhs of people who run small businesses on the streets and footpaths. The highlight of this scheme is that loans are given without any guarantee, so that vendors can expand their work without financial burden.

What is PM SVANidhi Scheme?

The scheme was launched in 2020, during the Covid-19 pandemic, when the livelihood of street vendors was badly hit. To support them, the government decided to provide collateral-free loans.

• Initially, vendors could take a loan of ₹10,000.

• After repayment, they became eligible for a higher loan amount.

What Has Changed Now?

The government has completely restructured the scheme with bigger benefits:

• First loan: ₹15,000

• Second loan: ₹25,000

• Third loan: ₹50,000

This step will help vendors increase their working capital in a phased manner.

Digital Benefits: Credit Card & Cashback

• Those who take a second loan will also get a UPI-linked RuPay credit card. This card can be used instantly in emergencies.

• To encourage digital transactions, the government will provide cashback of up to ₹1,600 per month for QR code–based payments.

Budget and Reach of the Scheme

• The government has increased the scheme’s budget to ₹7,332 crore.

• Along with existing beneficiaries, 50 lakh new vendors will be added.

• After expansion, the total beneficiaries under PM SVANidhi will reach 1.15 crore.

Beyond Loans: Training & Skill Development

This scheme is not limited to financial aid. Beneficiaries will also receive:

• Entrepreneurship and financial literacy training

• Digital payment training

• Food safety and hygiene guidance through partnership with FSSAI

Bottom Line

With the extension of PM SVANidhi Yojana till 2030, street vendors will not only get collateral-free loans but also digital tools, cashback, and skill development opportunities. This move is expected to make small shopkeepers more self-reliant, competitive, and future-ready.