PM SVANidhi

The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme has significantly impacted the lives of street vendors in Uttarakhand, fostering financial inclusion and digital literacy. Launched on June 1, 2020, the scheme provides collateral-free working capital loans to street vendors, aiding them in revitalizing their businesses post the COVID-19 pandemic.

Implementation in Uttarakhand:

• Loan Disbursement: As of July 2025, over 63,316 street vendors in Uttarakhand applied for loans through the online portal. In the first phase, loans of ₹15,000 were approved for more than 31,718 applicants. In the second phase, loans of ₹25,000 were sanctioned for approximately 18,817 applicants, and in the third phase, loans of ₹50,000 were approved for about 5310 applicants. Collectively, loans totaling ₹87.56 crore have been disbursed to over 50,635 street vendors across all three phases.

• Interest Subsidy: Beneficiaries receive a 7% interest subsidy from the central government and an additional 2% from the state government, effectively reducing the interest burden. Furthermore, the Uttarakhand government plans to cover the remaining 3-4% interest, ensuring that beneficiaries can access loans at minimal or no interest cost.

• Digital Transactions: Under the ‘Main Bhi Digital’ campaign, approximately 22,556 (70%) street vendors were provided with QR codes through banks, promoting digital transactions and enhancing digital literacy among vendors.

• Comprehensive Welfare: The ‘SVANidhi Se Samridhi’ initiative integrates beneficiaries and their families with eight central government welfare schemes, including One Nation One Ration Card, Janani Suraksha, Matru-Vandan, Suraksha Bima, Jan Dhan, Jeevan-Jyoti Bima, and Shram-Yogi Maandhan Yojana. Approximately 31,419 eligible hawkers and their relatives from 36 urban bodies in the state have benefited from these schemes.
Uttarakhand Chief Minister Pushkar Singh Dhami has praised the PM SVANidhi scheme for initiating a new wave of financial inclusion and digital literacy in urban areas, stating that it has restored self-employment, self-reliance, self-respect, and self-confidence among street vendors.
Overall, the PM SVANidhi scheme has played a pivotal role in empowering street vendors in Uttarakhand, providing them with financial support, promoting digital transactions, and integrating them into broader social welfare initiatives.

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