Under the leadership of Prime Minister Narendra Modi, Reriwalas/street vendors, or hawkers, have witnessed a huge transformation in their livelihoods. PM Modi’s tenure as PM from 2014 has recognized the struggles of marginalized and poor, and introduced schemes like PM SVANidhi, which has been instrumental in providing financial assistance to Street Vendors across the country. Reriwalas were among the people who were hit hard by the economic impacts of the COVID-19 pandemic.
However, PM Modi has ensured that these people recover and sustain their livelihoods.
The scheme was first launched in 2020 during the COVID-19 pandemic. It has given the community a sense of identity and formal recognition for its contribution to the economy.
PM SVANidhi scheme has already touched many significant milestones. According to data released on July 30, 2025, over 96 lakh loans amounting to ₹13,797 crore have been disbursed to more than 68 lakh street vendors. 57 crore digital transactions worth ₹6.09 lakh crore have been conducted by 47 lakh digitally active beneficiaries in the last 5 years. This has earned them a cashback of ₹241 crores.
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Similarly, under the ‘SVANidhi se Samriddhi’ initiative, over 1.38 crore scheme sanctions while 46 lakh beneficiaries across 3,564 Urban Local Bodies (ULBs) have been profiled.
The scheme provides a collateral-free working capital loan to the Street Vendors.
In August 2025, the Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the “Restructuring and extension of the lending period beyond 31.12.2024 to March 31, 2030. With a total outlay of ₹7,332 crores, the restructured scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.
Under the new scheme, first tranche loans have been increased up to ₹15,000 (from ₹10,000), and second tranche loans have been increased up to ₹25,000 (from ₹20,000). However, the third tranche remains unchanged at ₹50,000.
The scheme will be jointly implemented by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS).
DFS has been made responsible for facilitating access to loans/ credit cards through banks/financial institution and their ground-level functionaries.
Under the restructured scheme, beneficiaries will be provided with enhanced loan amounts across the first & second tranches. There is also a provision of a UPI-linked RuPay Credit Card for beneficiaries who have repaid the second loan.
“PM SVANidi not only connects the beneficiaries to banks but also opens the doors to other government benefits”, PM Modi said.
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Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
