Prime Minister Narendra Modi on Monday highlighted the successful completion of six years of the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme.
In a post on X, PM Modi said, “Today we mark 6 Years of PM SVANidhi, 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.”
Extending his best wishes to beneficiaries, the Prime Minister praised their resilience and entrepreneurial spirit, saying, “My best wishes to all beneficiaries whose determination and enterprise continue to strengthen our nation’s economy.”
The PM SVANidhi scheme, launched in 2020, aims to provide affordable working capital loans to street vendors and facilitate their integration into the formal financial system. The scheme also encourages digital transactions and offers incentives for timely repayment.
Union Minister for Power and Housing & Urban Affairs, Manohar Lal Khattar, also commemorated the milestone on Sunday, while addressing the sixth PM SVANidhi programme in Agartala.
He said the scheme has transformed the lives of millions of street vendors by expanding access to formal credit, promoting digital transactions and strengthening social security coverage.
“PM SVANidhi has transformed the lives of millions of street vendors by expanding access to formal credit, promoting digital transactions, and strengthening social security. More than a loan scheme, it has become a powerful instrument of economic inclusion, empowering vendors with Swarozgar, Svavlamban and Swabhimaan,” the minister said.
He added that under the leadership of PM Modi, the scheme has emerged as a key pillar in strengthening India’s informal urban economy and creating pathways for sustainable and dignified livelihoods.
Meanwhile, MyGovIndia also celebrated the scheme’s achievements through a social media campaign highlighting its impact on street vendors across the country.
In a post on X, MyGovIndia said that six years of PM SVANidhi have brought confidence, opportunity and a stronger sense of possibility to street vendors. The platform described the initiative as more than a welfare scheme, calling it a reflection of the government’s commitment to empowering vendors through self-employment, self-reliance and self-respect while contributing to the vision of an Aatmanirbhar Bharat.
Over the past six years, PM SVANidhi has emerged as one of the government’s flagship financial inclusion programmes, helping millions of small vendors access formal banking services, adopt digital payment systems and improve their livelihoods while strengthening the grassroots economy.
