New Delhi, Aug. 27 -- The Union Cabinet on Wednesday cleared the restructuring and extension of the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme until March 31, 2030.

Earlier, the lending period was until December 31, 2024.

With a total outlay of Rs.7,332 crore, the scheme "aims to benefit 1.15 crore beneficiaries including 50 lakh new beneficiaries," an official statement said.

The key features of the PM SVANidhi scheme include enhanced loan amount across first and second tranches, provision of UPI-linked RuPay Credit Card for beneficiaries who have repaid the second loan, and digital cashback incentives for retail & wholesale transactions.

The first tranche loan limit has been raised from Rs.10,000 to Rs.15,...