The Prime Minister’s SVANidhi Scheme has positively impacted the lives of numerous street vendors in Surat, Gujarat, and Bhagalpur, Bihar. Prime Minister Narendra Modi recently introduced a credit card virtually for street vendors and distributed loans to one lakh beneficiaries. The Surat Municipal Corporation, at an event held at the Surat Science Centre, facilitated the distribution of cheques to vendors and honored bank officials involved in providing loans.
Under the Prime Minister Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) scheme, the Surat Municipal Corporation has disbursed loans totaling around Rs 2.03 crore to over one lakh residents of Surat city. This Indian government micro-credit initiative, launched by the Ministry of Housing and Urban Affairs, aims to offer affordable, collateral-free working capital loans to street vendors for business restarts, emphasizing financial inclusion and digital empowerment through credit cards and interest subsidies.
Beneficiaries like Santosh Gupta and Santosh Mishra from Surat shared their positive experiences with the PM SVANidhi scheme. Santosh Gupta, a vegetable vendor, received successive loans of Rs 10,000 and Rs 25,000, highlighting the scheme’s support for small and medium street vendors in expanding their businesses. Similarly, Santosh Mishra received loans of Rs 10,000, Rs 25,000, and Rs 50,000, along with a sanctioned credit card.
Anita Kumari from Bhagalpur, another scheme beneficiary, expressed gratitude for the scheme’s impact, receiving loans of Rs 10,000 and Rs 25,000. The scheme has significantly improved the standard of living for street vendors, as noted by Santosh Mishra, who highlighted the relief from high-interest local lenders, now replaced by the PM SVANidhi scheme’s support.
