Prime Minister Celebrates Sixth Anniversary of Street Vendor Self-Reliance Fund Initiative
On the sixth anniversary of the Street Vendor Self-Reliance Fund, Prime Minister Narendra Modi praised the initiative for its role in empowering street vendors through guarantee-free loans and financial inclusion. The program has significantly impacted the informal urban economy, providing over 1.12 crore loans and benefiting millions. Modi emphasized the importance of trust and respect in this initiative, which has transformed the lives of countless vendors. The scheme has also promoted digitization and improved access to social security. Read on to discover more about this transformative program and its achievements.
Jun 1, 2026, 13:27 IST
Highlighting the Success of the Initiative
On Monday, Prime Minister Narendra Modi marked the sixth anniversary of the Street Vendor Self-Reliance Fund initiative, emphasizing the program's success in integrating street vendors into formal financial systems. He stated that this initiative is founded on the principles of 'trust, respect, and empowerment.' In a post on his Facebook account, the Prime Minister elaborated on how this program has empowered countless street vendors by providing affordable and 'guarantee-free loans.'
A Transformative Program
In his post, the Prime Minister expressed that today we celebrate 6YearsofPMSVANidhi, a scheme that has transformed the lives of numerous street vendors by offering guarantee-free loans, promoting financial inclusion, and creating new opportunities for growth. He extended his best wishes to all beneficiaries, whose resilience and entrepreneurship continue to strengthen our nation's economy.
Significant Impact on Informal Economy
According to a press release, the PM SVANidhi has emerged as a key initiative supporting vendors operating within India's informal urban economy. Beyond providing guarantee-free loans, the program has fostered digitization, improved access to institutional credit, and expanded social security coverage. Since its inception in 2020, over 1.12 crore loans have been disbursed, benefiting more than 75 lakh individuals in cities and towns.
Financial Growth and Digital Inclusion
Under this initiative, loans exceeding ₹17,800 crores have been provided. The press release noted that the impact is evident not only in official statistics but also in the daily lives of vendors, who are building stronger and more sustainable livelihoods. In recent years, the program has witnessed remarkable growth across cities and towns nationwide, with over 75.5 lakh beneficiaries availing more than 1.12 crore loans totaling over ₹17,800 crores. Additionally, over 55 lakh beneficiaries have been digitally connected through this scheme.
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