New updates have been introduced under the PM SVANidhi Scheme 2025 by the Government of India. This scheme was initially launched in 2020 to support selected citizens of India with financial aid. During the recent union budget presentation, Finance Minister Nirmala Sitharaman announced a revamp of the PM SVANidhi Scheme. Citizens who have applied for the scheme will now have access to enhanced financial assistance and other valuable benefits. For individuals looking to benefit from the new PM SVANidhi Scheme 2025, please visit the official website.
Overview of PM SVANidhi Scheme
The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is a micro-credit initiative by the Government of India to assist street vendors. The Ministry of Housing and Urban Affairs (MoHUA) is responsible for managing the scheme. Beneficiaries receive a collateral-free working capital loan starting from ₹10,000, with possibilities for subsequent loans of ₹20,000 and ₹50,000, along with a 7% interest subsidy.
Key Highlights of PM SVANidhi Scheme
| Key Highlights | Details |
|---|---|
| Name of the Scheme | PM SVANidhi Scheme |
| Launched By | Government of India |
| Launch Date | February 2025 |
| Announced By | Finance Minister of India |
| Purpose | Provide Financial Assistance |
| Beneficiaries | Citizens of India |
| Target Beneficiaries | Street Vendors |
| Advantage | Financial assistance of ₹10,000 |
| Eligibility Criteria | Street vendors in India |
| Required Documents | Aadhaar Card, Bank Account |
| Application Process | Online |
| Expected Benefits | INR 10,000 |
| Contact Details | 1800 11 1979 |
Latest Developments in PM SVANidhi Scheme
The latest updates announced by Finance Minister Nirmala Sitharaman during the union budget presentation include enhancements to the loan amounts under the PM SVANidhi Scheme. Beneficiaries will now receive UPI-linked credit cards with a limit of ₹30,000. This announcement benefits an estimated 68 lakh street vendors in India.
Objectives of PM SVANidhi Scheme
The PM SVANidhi Scheme aims to uplift the social status and improve the living standards of financially vulnerable citizens working as street vendors. This initiative allows beneficiaries to manage their expenses without financial burdens. The financial assistance provided through this scheme plays a crucial role in helping street vendors grow their businesses and create more opportunities.
UPI Linked Credit Cards for Beneficiaries
Beneficiaries under the scheme will receive UPI-linked credit cards, facilitating easy money withdrawals and online transactions. Each card has a limit set to ₹30,000. This feature also educates beneficiaries on UPI transactions and effective credit card usage.
Eligibility Criteria for PM SVANidhi Scheme
- Street vendors with a Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs).
- Vendors identified in a survey who have not received a Certificate of Vending/Identity Card may receive a Provisional Certificate.
- Street vendors excluded from the ULB-led identification survey or newly started vendors with a Letter of Recommendation (LoR) from ULB/Town Vending Committee (TVC).
- Vendors from peri-urban/rural areas vending within ULBs’ geographical limits, holding a LoR from ULB/TVC.
Comparing New and Previous Benefits of the SVANidhi Scheme
The significant difference between the previous and newly updated benefits under the PM SVANidhi Scheme is primarily seen in digital transaction usage and cashback incentives. The updated version offers a reduced cashback amount per transaction but allows for a higher total monthly cashback limit than before. Core benefits like the 7% interest subsidy and the initial loan of ₹10,000 remain unchanged across both versions.
Required Documents for Application
- Aadhaar Card
- Ration Card
- Bank Account Details
- Any other necessary documents
Expected Number of Beneficiaries
- A total of 68 lakh beneficiaries are anticipated to be selected under the PM SVANidhi Scheme 2025.
Key Features of PM SVANidhi Scheme
- Financial assistance in the form of a loan.
- UPI-linked credit card for online transactions.
- ₹30,000 limit on the UPI-linked credit cards.
- Support for 68 lakh selected beneficiaries.
How to Avail Benefits from PM SVANidhi Scheme
STEP 1: Individuals seeking benefits should visit the official PM SVANidhi website.
STEP 2: Find and click the “apply now” option on the home page.
STEP 3: Fill in all details as required and attach the necessary documents.
STEP 4: Review the information carefully and click submit to complete the application process.
Helpline Details
For assistance, you can reach out via:
Phone No: 1800 11 1979
Frequently Asked Questions
Who can avail benefits of the PM SVANidhi Scheme 2025?
All citizens working as street vendors are eligible to avail benefits of the PM SVANidhi Scheme 2025.
What are the new benefits under the PM SVANidhi Scheme 2025?
Beneficiaries will receive a UPI-linked credit card with a limit of ₹30,000.
When were the new updates announced?
The new updates under the PM SVANidhi Scheme 2025 were announced on 1st February 2025.
How does one apply for the PM SVANidhi Scheme?
To apply, visit the official website and complete the online application form with all required details.
What documents are required for the application?
Documents like an Aadhaar card, ration card, bank account details, and other necessary papers are required for the application.
