The Union Cabinet has approved the restructuring of the PM SVANidhi Scheme, extending it till March 31, 2030. The move will benefit over 1.15 crore street vendors by expanding financial support, enhancing loan amounts, and promoting digital inclusion through UPI-linked RuPay Credit Cards and cashback incentives.

BulletsIn

• Scheme extended from Dec 2024 to Mar 2030
• Total outlay set at ₹7,332 crore
• Beneficiaries targeted: 1.15 crore street vendors
• Includes 68 lakh existing and 50 lakh new vendors
• Loan slabs revised: ₹15k (1st), ₹25k (2nd), ₹50k (3rd)
• UPI-linked RuPay Credit Cards after 2nd tranche repayment
• Cashback up to ₹1,600 per year on digital transactions
• Coverage widened to census towns and peri-urban areas
• Since 2020: 96 lakh loans, ₹13,797 crore disbursed
• Scheme aims at urban livelihoods, digital and financial inclusion