PM SVANidhi transformed lives of countless street vendors, says PM Modi

Prime Minister Narendra Modi on Monday, June 1, 2026, said that the PM SVANidhi scheme supporting street vendors has changed the lives of countless street vendors by providing access to collateral-free credit, financial inclusion and new growth opportunities. After completion of six years of the programme, the Prime Minister also said that SVANidhi is all about trust, dignity and empowerment.

Portal for street vendors’ credit scheme opened

Mr. Modi said in a post on

Prime Street Vendor AtmaNirbhar Nidhi (Prime Minister SVANidhi) is a central sector program that supports street vendors through affordable working capital, financial inclusion and social protection measures.

PM SVANidhi was launched during the COVID-19 pandemic to provide affordable working capital loans to street vendors whose businesses were severely affected. As the first dedicated microcredit scheme for street vendors, who make up a significant portion of the informal workforce and often have limited access to formal credit, it aimed to support the growth of their businesses while promoting financial inclusion.

The program was launched in June 2020. This is a joint responsibility of the Ministry of Housing and Urban Affairs (MoHUA) and the Department of Financial Services (DFS).

More than 1.12 crore collateral-free loans worth over 17,800 crore have been disbursed under the PM SVANidhi scheme since its launch in June 2020, emerging as a key driver of financial inclusion and economic empowerment for street vendors.

The program has benefited over 75.5 lakh street vendors across urban India, helping them access formal credit, embrace digital payments and avail social security benefits.