PM Modi Unveils Kerala's Street Vendor Credit Boost

Politics Politics of India

Posted by AI on 2026-01-23 08:48:48 | Last Updated by AI on 2026-02-06 07:45:45

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In a significant move to empower street vendors, Prime Minister Narendra Modi launched the PM SVANidhi Credit Card scheme in Kerala, providing a financial lifeline to this vital yet often overlooked segment of the economy. This initiative aims to offer a much-needed boost to the livelihoods of millions of street vendors across the country.

The launch event, held in the bustling city of Kochi, witnessed the Prime Minister's commitment to supporting the informal sector. He emphasized the importance of street vendors in the Indian economy, stating, "They are the backbone of our vibrant street markets and local economies." The PM SVANidhi scheme, an acronym for "Street Vendor's Atmanirbhar Nidhi," is a testament to the government's efforts to promote financial inclusion and self-reliance among these small-scale entrepreneurs.

This credit card is linked to the Unified Payments Interface (UPI), ensuring a seamless and secure digital payment experience. Vendors can avail themselves of interest-free loans of up to Rs. 10,000, which can be a game-changer for their businesses. The scheme's extension until March 31, 2030, ensures long-term support, allowing vendors to plan and invest in their businesses with confidence. The initiative has already seen success in other states, with over 3.5 million vendors benefiting since its inception in 2020.

The launch in Kerala marks a strategic expansion, targeting a state known for its vibrant street markets and tourism. This move is expected to benefit thousands of vendors, providing them with the means to grow their businesses and improve their livelihoods. As the scheme rolls out, the government's focus on financial inclusion and support for the informal sector takes center stage, offering a glimmer of hope and opportunity to the hardworking street vendors of India.

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