PM SVANidhi Completes Six Years; PM Modi Hails Financial Inclusion Success

Prime Minister Narendra Modi on Monday celebrated six years of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, describing it as a transformative initiative that has improved the lives of millions of street vendors through financial inclusion, collateral-free credit and new opportunities for growth.

In a post on X, PM Modi said the scheme embodies trust, dignity and empowerment. He praised the determination and enterprise of beneficiaries, noting that their efforts continue to strengthen India’s economy and contribute to the vision of an Aatmanirbhar Bharat.

Today we mark #6YearsofPMSVANidhi, a scheme which has transformed the lives of countless street vendors by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth. This scheme is all about trust, dignity and empowerment. My best wishes to… https://t.co/M4N8J9UoqK

— Narendra Modi (@narendramodi) June 1, 2026

Launched in June 2020 during the COVID-19 pandemic, the scheme was introduced to support street vendors whose livelihoods were affected by economic disruptions.

Recognising its success, the government has extended the programme until 2030, increasing its outlay to Rs 7,332 crore and enhancing loan limits to benefit an estimated 1.15 crore vendors across the country.

The government said PM SVANidhi has helped vendors expand their businesses and improve their livelihoods.

Since its launch, over 75 lakh vendors have availed more than 112 lakh loans worth over Rs 17,800 crore, with nearly 95 per cent accessing formal credit for the first time.

Beneficiaries received nearly Rs 800 crore in cashback and interest subsidies, contributing to an estimated 20 per cent annual income growth.

Street vendors also carried out over 841 crore digital transactions worth nearly Rs 9 lakh crore, while around 6 lakh food vendors received hygiene and food safety training.

More than 53 lakh beneficiaries, including many from marginalised communities, gained greater financial inclusion, with women accounting for nearly 46 per cent of beneficiaries.

Also Read: PM Modi, Leaders Extend Birthday Wishes To Mansukh Mandaviya