Why in News?

PM SVANidhi Scheme extended until March 2030, restructured to benefit 1.15 cr vendors, including 50 L new beneficiaries. 

• Launched: 2020 by MoHUA 
• Objective: Support street vendors impacted by Covid-19 through working capital loans, financial inclusion, and digital transactions. 
• Key Benefits: 
  • Interest subsidy on timely loan repayment 
  • Cashback for digital transactions 
  • Eligibility for enhanced next tranches of loan  
  • Social security via ‘SVANidhi se Samriddhi’ 
• PM SVANidhi 2.0: 
  • Implementation: MoHUA + DFS (Department of Financial Services) 
  • Features: 
    • Increased loan amounts across 1st & 2nd tranches - greater working capital 
    • UPI-linked RuPay Credit Card for vendors repaying the 2nd loan, ensuring quick credit access. 
    • Expanded coverage to census towns & peri-urban areas 
    • Strengthened ‘SVANidhi se Samriddhi’ initiative with Lok Kalyan Melas 
    • Focus on entrepreneurship, digital skills, and food safety (with FSSAI) 
• Awards: 
  • PM’s Award for Excellence in Public Administration (2023) 
  • Silver Award for Government Process Re-engineering (2022)