PM SVANidhi: Advancing Financial Inclusion for Street Vendors

India, May 30 -- The Government of India has issued a release:

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1. What is PM SVANidhi?

PM SVANidhi is a Central Sector Scheme supporting street vendors through affordable working capital, financial inclusion and social protection measures.

2. Why was it introduced?

PM SVANidhi was launched during the COVID-19 pandemic to provide affordable working capital loans to street vendors whose businesses had been severely affected. As the first dedicated micro-credit scheme for street vendors, who constituted a significant part of the informal workforce and often had limited access to formal credit, it aimed to supp...