PM SVANidhi at Six

PM SVANidhi, the collateral-free micro-credit line for India's street vendors, turned six on 1 June 2026. Born during the COVID-19 lockdown of June 2020 as the first scheme built purely for hawkers, it has since grown into a credit ladder: repay one small loan and a larger one unlocks. A 2025 Cabinet restructuring lifted the loan tranches to ₹15,000, ₹25,000 and ₹50,000, stretched lending to 2030 and added UPI-linked RuPay credit cards. More than 112 lakh loans worth over ₹17,800 crore have now reached 75.5 lakh vendors — and for roughly 95% of them, it was their first taste of formal institutional credit.