And after Covid-19,that support was not small thing ah.
The scheme was initiated by Prime Minister Narendra Modi in 2020,when small vendors across India were badly hit because markets were shut,business was down and many people had almost no backup savings . For urban poor,this was very real pressure.
Union Minister for Housing and Urban Affairs Manohar Lal said this initiative has given much-needed financial security and social recognition to street vendors . And that part matters,because many vendors work for years in cities but still remain outside formal banking system.
As per details shared,over 75.5 lakh street vendors have benefited under PM SVANidhi Scheme,with more than ₹17,800 crore disbursed in loans . That is big number,and it also shows how many people depend on small daily business for their livelihood.
Few numbers standing out clearly here:
- Over 1.12 crore loans sanctioned for street vendors.
- 2.59 lakh loans in North-East under scheme support.
- In Tripura,over 9,300 loans sanctioned for local vendors.
And tbh,the interesting part is that scheme is not only about giving collateral-free loans . It is also about dignity,confidence and bringing vendors into formal economy for first time.
Manohar Lal emphasized that this shift has helped vendors access financial resources and move toward self-reliance . For many small sellers,having bank-linked credit instead of depending on informal borrowing can change whole equation.
But at same time,real test is always on ground . Are vendors getting loans easily,are repayments manageable,are they actually able to grow business after getting support… these questions matter too.
PM SVANidhi Scheme has clearly reached large number of people across India,and for street vendors,it gives some recognition which they deserved for long time . Still,how deep this change goes in their daily lives is something we need to keep watching…
