Empowering India's Street Vendors: The Success of PM SVANidhi
PM SVANidhi, launched in 2020, has become a cornerstone for economic empowerment among street vendors in India's informal urban economy. Offering over 1.12 crore loans worth ₹17,800 crore, the initiative provides collateral-free loans while advancing digital literacy and financial inclusion. By 2026, PM SVANidhi achieved significant success, extending support to marginalized communities and women, and expanding its reach to more than 75 lakh beneficiaries. The program also facilitated digital transactions exceeding ₹8.96 lakh crore, demonstrating substantial economic improvement and social inclusion.
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