India, Aug. 28 -- The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme has completed one year of its restructured phase, with a stronger focus on formal credit, digital financial inclusion, social security, capacity building and entrepreneurship for urban street vendors.
The scheme, launched in June 2020 to provide collateral-free working capital loans to street vendors, was restructured and extended until March 31, 2030, with an aim to benefit 1.15 crore vendors, including 50 lakh new beneficiaries.
During the first year after restructuring, 21.86 lakh loans worth Rs 6,294 crore were disbursed to 10.56 lakh new beneficiaries.
To expand access to formal credit, the scheme has introduced a UPI-linked RuPay Credit Card with a cred...