🛒 What is PM SVANidhi?
PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) is a micro-credit scheme for urban street vendors. It provides working capital loans starting at ₹10,000, scaling up to ₹50,000 on timely repayment. No collateral needed. Digital repayment earns a 7% annual cashback incentive from the government.
Frequently Asked Questions
I don't have a Certificate of Vending. Can I still apply?▼
Yes. If you were not surveyed during the ULB census, you can get a Letter of Recommendation (LoR) from the Urban Local Body or Town Vending Committee. This is accepted in place of Certificate of Vending.
What is the interest rate on PM SVANidhi loan?▼
The bank charges interest at their standard rate (typically 12–24% for MFIs). However, the government provides 7% annual interest subsidy directly as cashback when you repay digitally. This effectively reduces your cost.
Can I apply for PM SVANidhi for my village?▼
No. PM SVANidhi is only for urban street vendors in cities, towns, and municipalities. Rural vendors may be eligible under NRLM/DAY-NRLM or state government schemes.
How is the 7% cashback paid?▼
The government pays 7% annual interest subsidy as cashback directly to your bank account, credited quarterly. To be eligible, you must make at least a certain percentage of repayments through digital modes (UPI, BHIM, RuPay etc.).