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The government has launched a new initiative for small traders and street vendors to ease their daily business needs and enhance financial inclusion. On 23 January 2026, Prime Minister Narendra Modi unveiled the PM SVANidhi Credit Card from Thiruvananthapuram, marking the next phase of the PM Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) scheme.

What is PM SVANidhi Credit Card?

The PM SVANidhi Credit Card is a UPI-linked revolving credit facility that provides interest-free credit to street vendors. It enables them to meet urgent daily business expenses, such as purchasing vegetables, fruits, raw materials, or other operational needs, without worrying about interest for 20–50 days.

• Credit Limit: ₹30,000 (initially ₹10,000, adjustable based on repayment behavior)

• Validity: 5 years from issuance

• Digital Integration: Fully UPI-enabled with ECS, NACH, or AutoPay for automated repayments

Who Can Avail This Card?

Vendors who have successfully repaid their previous two PM SVANidhi loans will be eligible. This reward-based system encourages credit discipline and helps integrate small businesses into the formal financial system.

Usage Guidelines & Restrictions

• Allowed: Business expenses only

• Not Allowed: Cash withdrawal, international transactions, foreign currency usage, alcohol, gambling, foreign airlines, and international hotels

Eligibility & Duration

• Age: 21–65 years

• Documents Required: Aadhaar, PAN, Vendor ID, bank details

• Program Extension: PM SVANidhi scheme extended to 31 March 2030, with ₹7,332 crore allocated and a target to benefit 1.15 crore street vendors, including 50 lakh new beneficiaries