PM SVANidhi scheme completes 6 years: Over Rs 17800 crore disbursed in loans to street vendors - Check eligibility, amount and other details

The PM SVANidhi scheme has surged past its sixth anniversary, disbursing over Rs 20,000 crore in collateral-free loans to more than 1.25 crore street vendors, cementing its role not just as a financial safety net but as a pivotal force in formalizing India's vast informal economy. This milestone highlights the scheme's unexpected agility in fostering financial inclusion and leveraging digital payments, especially critical in the post-pandemic landscape. This aggressive push for financial integration is far from a mere welfare handout; it's a strategic economic lever. The Ministry of Housing and Urban Affairs, working with partners like SIDBI and Public Sector Banks, has recently focused on scaling the third tranche of loans (up to Rs 50,000) and deepening digital transaction incentives. This aims to transition vendors from mere survival to micro-entrepreneurship, directly challenging the exploitative practices of informal lenders and bolstering local consumption. Looking ahead, the scheme's next frontier involves a significant integration with the Open Network for Digital Commerce (ONDC), poised to bring a new cohort of street vendors into the e-commerce fold. This move, expected to accelerate in the latter half of 2026, signals a bolder ambition: not just financial access, but digital market access, promising further economic uplift and a critical test of India's inclusive digital infrastructure.