The PM SVANidhi 2.0 Yojana is the enhanced version of the original Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme — launched by the Government of India to empower street vendors with easier access to credit, better incentives, and expanded benefits. This upgraded version supports urban street vendors not just with loans, but also with capacity building, digital tools, and bigger credit limits for business growth.
What Is PM SVANidhi 2.0 Yojana?
PM SVANidhi 2.0 is a government scheme aimed at providing working capital loans to street vendors, helping them restart and expand their businesses after economic slowdown and pandemic disruptions. It offers collateral-free microcredit, attractive interest subsidies, cashback incentives, and improved opportunities for repeat and higher loans.
Who Is Eligible for PM SVANidhi 2.0?
This scheme is meant for street vendors, hawkers, pushcart sellers, and other eligible urban vendors who were operating on or before March 24, 2020. Eligible applicants must be Indian citizens and should have a valid certificate of vending or supporting documents issued by the urban local body. Those already covered under the original SVANidhi scheme can benefit from expanded limits under 2.0.
Key Benefits of PM SVANidhi 2.0
- Collateral-free working capital loans up to higher limits compared to earlier versions
- Interest subsidy on timely repayment, reducing the cost of borrowing
- Cashback rewards for digital transactions to promote digital payments
- Repeat loans with higher amounts based on performance
- Skill development and digital literacy support through special training modules
These benefits are designed to help vendors increase income, access markets, and improve business sustainability.
Loan Amounts and Incentives
Under PM SVANidhi 2.0, vendors can get higher loan amounts, with repeat loan opportunities increasing based on successful repayment history. Interest subsidies reduce effective cost, and transaction cashback encourages use of digital payment methods — giving vendors extra savings on daily business operations.
Documents Required
To apply, vendors generally need:
• Aadhaar card
• Voter ID or other identity proof
• Certificate of vending / trade license issued by the local urban body
• Bank account details
• Recent passport-size photo
Having a digital payment account helps vendors avail maximum cashback incentives and benefits.
How to Apply for PM SVANidhi 2.0
Interested vendors can apply through the official PM SVANidhi portal or through designated bank branches and Common Service Centers (CSCs). The process involves filing an online form, uploading required documents, and bank verification before loan disbursal. Once approved, working capital is credited directly to the vendor’s bank account.
Why PM SVANidhi 2.0 Matters
This scheme not only helps vendors access microcredit with affordable terms, but also promotes financial inclusion, digital adoption, and livelihood security. With tailored support like incentives and digital literacy, PM SVANidhi 2.0 aims to uplift urban street vendors and make their businesses more profitable and resilient.
