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Government Announces Massive Expansion of PM SVANidhi Scheme.

Government Schemes | Dated: 11 May 2026

To vastly strengthen urban micro-enterprises, the Ministry of Housing officially announced a massive enhancement in the PM SVANidhi Scheme. The completely collateral-free loan target has been significantly extended to cover exactly 1 Crore street vendors.

🎯 Key Highlights:

  • The scheme now strictly integrates biometric authentication for swift disbursals.
  • It exclusively applies to all registered vendors via the digital banking portal.
  • The scheme heavily promotes absolute financial inclusion through digital cashbacks.

💡 Other Important Facts:

  • Scheme: PM SVANidhi.
  • Target: Street Vendors.
  • New Goal: 1 Crore Vendors.

📚 Test Your Knowledge:

Under the recent expansion of the PM SVANidhi Scheme, the collateral-free loans target has been enhanced to cover how many street vendors?

Correct Answer: 1 Crore

🚀 Quick Recap:

About PM SVANidhi

  • Launch Year - 2020
  • Objective - Micro-credit facility for street vendors