The PM SVANidhi scheme’s launch by PM Modi has been celebrated as a lifeline for street vendors, with Odisha Minister Krishna Chandra Mahapatra spotlighting its benefits. Kicked off from Kerala, the program distributes enhanced loans and credit cards nationwide.
Mahapatra told media the scheme’s collateral-free Rs 15,000 loans (up from Rs 10,000) and cards provide security and ease. ‘It’s reshaping lives, especially for women vendors who started small and now stand tall,’ he said.
Anusuya Pradhan’s story captures the shift: from tailoring without tools to a full-fledged shop selling food items, thanks to phased loans and repayments. ‘Banks and officials now support us proactively. This scheme gave self-reliance, better education for kids, and family security,’ she expressed.
Asim Biswas added that formal access ends informal lending woes. ‘Clear processes build confidence for growth. Reliable capital frees us from brokers – a true blessing for hardworking vendors.’
Far from mere funding, Mahapatra called it a respect and sustainability initiative. As vendors scale up with government backing, PM SVANidhi emerges as a powerful tool for economic upliftment, turning daily struggles into stories of success across states.