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  • Context (PIB): A recent study by SBI has hailed the PM SVANidhi Scheme’s performance, stating that 43% of beneficiaries are women street vendors.

About the Scheme

  • It is a micro-credit scheme launched by the central government for urban street vendors.
  • The scheme was launched during the COVID-19 pandemic 2020 by the Ministry of Housing and Urban Affairs (MoUHA) and provides collateral-free loans up to Rs 50,000 for eligible street vendors in incremental tranches: first tranche of Rs 10,000, second tranche of Rs 20,000 subject to repayment of the first tranche, and third tranche of Rs 50,000 upon repayment of the second loan.
  • PM SVANidhi has helped promote inclusive entrepreneurship and proven to be a gender equaliser.

How did the scheme ensure Inclusive Entrepreneurship?

  • PM SVANidhi has seamlessly connected marginalised urban micro-entrepreneurs, breaking down community barriers.
    • Almost 75% of loan beneficiaries come from the non-general category.
    • OBCs account for 44% of total disbursement, while SCs/STs account for 22%
    • 65% of the borrowers in PM SVANidhi are in the age group of 26-45.
  • Behavioral Shift for Digital Acceptability: PM SVANidhi loans, when given to Jan Dhan beneficiaries, migrate at least 9.5% of people doing less than 10 transactions into higher digital transactions.
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