PM Svanidhi Yojana: SVANidhi Yojana Online Application, Street Vendor Self Help Fund

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SVANidhi Yojana Online Application, Street Vendor Self Help Fund

10,000 is available under the Self-Reliance Fund Scheme

The applications under the Prime Minister Street Vendors Self-Reliant Fund (PM SVANidhi) scheme launched to help the street vendors have crossed the 5 lakh mark. The scheme was launched on 2 July 2020 and within 41 days more than 1 lakh loans have been sanctioned under PM Swanidhi. The PM Swanidhi scheme has been launched by the Ministry of Housing and Urban Affairs as part of the Self-Reliant India Campaign.

Pradhanmantri SVANidhi Yojana Highlights

  • Name of the scheme: SVANidhi Yojana 
  • Started by: Prime Minister Narendra Modi
  • Launch date: 1 June 2020
  • Beneficiary: street vendors
  • Purpose: loan

This scheme was introduced to help the street vendors and small shops facing loss in business due to Covid 19 lockdown. Those who run shops on the road side carts or street vendors, those who install fruit-vegetable, laundry, salons and paan shops can also take loans under PM Swanidhi. However, the condition for this is that the vendors are vending on or before 24 March 2020.

Loans up to Rs 10000 available for 1 year

Under the PM Swanidhi scheme, street vendors of urban areas get collateral free loan up to Rs 10,000 for a period of 1 year. That is, no guarantee will be taken for the loan. The loan will have to be paid in monthly installments. There is an interest subsidy of 7 per cent per annum on regular repayment of loans received under PM Swanidhi scheme. The amount of interest subsidy will come directly to the beneficiary account on quarterly basis. The subsidy will come into the account in one go on premature payment of loan. Also, cashback of up to Rs 1200 per year is also available for those doing digital transactions in the prescribed manner. At the time of first loan and in the event of early payment, the beneficiary becomes eligible to get more loan.

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Who will give loan

Scheduled commercial banks, regional rural banks, small finance banks, cooperative banks, non-banking finance companies, micro finance institutions and SHG banks will provide loans under the scheme. The term of the scheme is till March 2022. The implementation partner for the scheme is Small Industries Development Bank of India (SIDBI). The mandatory KYC documents for the beneficiary are Aadhaar card and voter ID card. Apart from this, driving license, MNREGA card, PAN card are also included in KYC documents.

Application Procedure and Conditions

To apply for a loan under PM Swanidhi, it is necessary for the vendor to have a mobile number linked to Aadhaar. To avail the PM Swanidhi scheme, one can apply with the help of or mobile app. This loan can also be availed through 3.8 lakh Common Service Centers (CSCs) spread across the country.

When did the plan start? 

The scheme was approved in the Union Cabinet meeting held on June 1 under the chairmanship of Prime Minister Narendra Modi. Under this scheme, small amount of loan is provided to the street vendors. No guarantee is taken in giving such a loan. 

How much is the loan? 

Under the PM Swanidhi scheme, loans up to a maximum of 10 thousand rupees are available. It helps in starting a business. It is given with very easy conditions. This is a kind of unsecured loan. Who are the characters? This loan is given to those who run shops on the roadside, cart or hawker-track. Fruit-vegetable, laundry, saloon and paan shops are also included in this category. Those who run them can also take this loan. 

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How much is the interest? 

Under this scheme, loans are given at concessional rates. Special interest rebate is also given to those who pay the loan on time. 

How much is the government allocation for the scheme? 

The government has earmarked Rs 5000 crore for this scheme for the help of street vendors. There will be no strict condition for this. 

How to apply

First of all, the applicant has to visit the official website of the scheme After this, the home page will open on the computer screen in front of you.


On this home page ‘Planning to apply for loan?’ able to see. In this, read 3 steps carefully and click on ‘View More’. After doing this, you will see all the terms and conditions in detail. On this page you have to click on ‘View / Download Form’. It is highlighted in blue under the first point. After this, the form of Swanidhi Scheme will open in front of you. This file will be in PDF format.

After downloading the application form, you have to fill all the information asked in this form. After filling all the information, you will have to attach all your necessary documents with the application. After this, the application form has to be submitted to authorized institutions.

How to View List of Institutions?

You will also see this list from where you have downloaded the form. That is, we have to click on ‘More’ in the ‘Planning to apply for loan’ section on the home page. Then the option of ‘Lenders List’ will appear on the left. On clicking on it, you will get a list of loaning institutions.



  • Swanidhi Yojana is for Rekadi-Lari or Khumcha planters
  • Under the scheme, a cheap loan of Rs 10,000 will be given
  • Out of 1.54 lakh applications so far, 48,000 loans have been sanctione


How many people will benefit?  

The Government believes that 50 lakh street vendors are expected to benefit from this scheme. Experts believe that this scheme will help such shopkeepers in another way. Usually these people get caught in the clutches of ushers. The usurers collectively charge interest from them for a small amount. This scheme will save them from the trap of usurers.

To apply for a loan, an agent of the banking correspondent / micro finance institution of your area can also be contacted.

Whether or not you are eligible to apply for a loan and whether there is a name in the survey list can be found from the website. Vendors whose name is in the survey list but do not have an identity card or certificate of vending can also avail. A provisional certificate of vending will be issued to such vendors from the web portal.

This scheme is also for those vendors, who live in rural areas around urban areas and sell in the city / town and have not been able to participate in the survey. Such vendors have to obtain a letter of recommendation from the ULB / Town Vending Committee. Apart from this, a request can also be made through a general application to the urban local body.

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