PM SVANidhi Credit Card Launched: Eligibility, Rewards, Cashback And Application Process Explained

The PM SVANidhi Credit Card has been rolled out as part of the government’s push to deepen financial inclusion among street vendors. Introduced under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, the credit card gives eligible vendors quick access to small-value credit through a UPI-linked RuPay platform.

PM SVANidhi Scheme AtA Glance

The PM SVANidhi scheme was launched in June 2020 to support street vendors affected by the COVID-19 pandemic. It was designed to provide collateral-free working capital loans, helping vendors restart and stabilise their businesses. Since then, the scheme has expanded beyond short-term relief and now plays a key role in bringing street vendors into the formal financial ecosystem.

In August 2025, the government approved the restructuring and extension of the scheme until March 31, 2030, with a total outlay of ₹7,332 crore. The revised framework aims to benefit around 1.15 crore street vendors, including 50 lakh new beneficiaries.

Loan Limits Under The Restructured Scheme

Under the updated structure, eligible street vendors can avail a first working capital loan of up to ₹15,000 for one year, along with interest subsidy benefits. Vendors who repay the first loan on time become eligible for a second loan of ₹25,000, followed by a third tranche of up to ₹50,000, subject to timely repayments. This step-by-step lending model rewards credit discipline and supports gradual business growth.

Credit Card Facility Under PM SVANidhi

The credit card facility is available to street vendors who have repaid their second PM SVANidhi loan on time. These UPI-linked RuPay credit cards allow instant access to funds for day-to-day business expenses and personal needs.

Among the options available is a lifetime-free PM SVANidhi credit card with a starting credit limit of ₹10,000. Cardholders earn one reward point for every ₹100 spent on eligible transactions. Additional incentives include cashback benefits of up to ₹1,200 on regular sales and up to ₹400 on wholesale purchases, subject to defined monthly and quarterly limits.

Eligibility And Application Process

Eligible street vendors can apply for the PM SVANidhi credit card through the PM SVANidhi portal or the PM SVANidhi mobile application. The process is fully digital, making it easier for vendors to access formal credit without lengthy paperwork.

Read more: From GST To Mutual Funds: Here Is How Key Financial Changes From February 1, 2026, Will Impact You!

Conclusion

With the introduction of credit cards under PM SVANidhi, the government has added another layer of support for street vendors. The move is expected to improve credit access, encourage digital payments, and strengthen the financial resilience of one of the most critical segments of the urban informal economy.

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