Prime Minister Shri Narendra Modi on Monday highlighted the completion of six years of the PM SVANidhi Scheme, emphasizing its transformative impact on the lives of street vendors across India. The initiative has played a key role in promoting financial inclusion and empowering small traders with access to formal credit.
PM Modi Highlights Success of PM SVANidhi Scheme
The Prime Minister said that the PM SVANidhi Scheme has provided collateral-free loans to thousands of street vendors, helping them rebuild and expand their livelihoods. He noted that the scheme is based on trust, dignity, and empowerment, ensuring that street vendors are integrated into the formal financial system.
According to the Prime Minister, the PM SVANidhi Scheme has not only offered financial assistance but also created new opportunities for growth and self-reliance among beneficiaries across the country.
PM SVANidhi Scheme Driving Financial Inclusion
The government launched the SVANidhi Scheme to support street vendors affected by economic challenges and to bring them into the mainstream economy. Over the past six years, the scheme has helped improve access to banking services, digital payments, and credit facilities.
PM Modi emphasized that the PM SVANidhi Scheme continues to strengthen financial inclusion by ensuring that even small vendors can access formal credit without collateral, thereby improving their economic stability.
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Highlighting the human impact of the SVANidhi Scheme, the Prime Minister praised the determination and entrepreneurial spirit of street vendors. He said their hard work contributes significantly to the nation’s economy.
The PM SVANidhi Scheme has also encouraged digital adoption among vendors, helping them use online payment systems and expand their customer base in an increasingly digital economy.
PM Modi’s Message
On the completion of six years of the PM SVANidhi Scheme, PM Modi extended his best wishes to all beneficiaries. In a post on X, he said the scheme symbolizes trust, dignity, and empowerment for street vendors across India.
Today we mark #6YearsofPMSVANidhi, a scheme which has transformed the lives of countless street vendors by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth. This scheme is all about trust, dignity and empowerment. My best wishes to… https://t.co/M4N8J9UoqK
— Narendra Modi (@narendramodi) June 1, 2026
He further stated that the success of the PM SVANidhi Scheme reflects the resilience and dedication of beneficiaries who continue to strengthen India’s economic foundation.
The PM SVANidhi Scheme has emerged as a major initiative for uplifting street vendors by providing financial support and promoting self-reliance. As it completes six years, the scheme continues to play a vital role in empowering small traders and advancing financial inclusion across India.