Archive · 30 May 2025
Street Vendors to Get Enhanced Loans and Credit Cards
Imagine helping street vendors get money to run their businesses.
The government is updating a program called PM SVANidhi.
Vendors who already paid back loans of 10,000, 20,000, and 50,000 rupees will get credit cards from banks.
These cards will let them borrow up to 30,000 rupees.
The government is also increasing loan amounts by an extra 10,000 rupees.
This is to help vendors from rural areas who move to cities to make a living.
It will make it easier for vendors to get money and grow their businesses.
It will also help them avoid using high-interest loans.
Street vendors will receive higher subsidized loans.
Credit cards with a limit of Rs 30,000 will be provided.
Banks will issue credit cards to vendors who repaid earlier loans.
The scheme is being revamped and will be placed before Cabinet for approval.
Subsidized loans will be granted to street vendors from rural areas migrating to cities.
- Who
- Street vendors will benefit from the revamped PM SVANidhi scheme.
- What
- Street vendors will receive higher subsidized loans and credit cards.
- When
- The revamped scheme is to be placed before Cabinet for approval.
- Where
- The scheme will also include street vendors from rural areas migrating to cities.
- Why
- To provide relief from high-interest informal sector loans and support street vendors.
- Scheme Name
- PM SVANidhi
- Credit Card Limit
- Rs 30,000
- Loan Amount Increase
- Rs 10,000 (additional)
- Credit Cards
- Issued by Banks
- Eligibility
- Street vendors who repaid earlier loans