🔹 What’s New?
- 💳 Credit Cards Introduced
- ₹30,000 limit for eligible street vendors
- Available to those who have repaid ₹10,000 & ₹20,000 loans
- Encourages financial discipline & flexibility
- 📈 Tiered Loan Structure
- 1st Loan: ₹10,000
- 2nd Loan: ₹20,000
- 3rd Loan: ₹50,000 (on-time repayment required)
👥 Who Benefits?
- ✅ Over 50 lakh street vendors in urban & semi-urban India
- ✅ Strong focus on women-led businesses
- ✅ Vendors with digital repayment records prioritized
🎯 Why It Matters
- ✔️ Builds credit history for informal sector
- ✔️ Boosts local economies with more liquidity
- ✔️ Reduces dependency on informal moneylenders
- ✔️ Promotes financial literacy & digital transactions
📝 How to Apply
- Via Urban Local Bodies, banks, MFIs
- Online at: pmsvanidhi.mohua.gov.in
- Support provided for documentation & onboarding
⚠️ Challenges Ahead
- 🚧 Financial awareness & digital literacy gaps
- 📊 Risk of over-indebtedness if usage not monitored
- 🔍 Last-mile outreach in underserved areas
🗣️ “This isn’t just about loans—it’s about transforming street vendors into credit-worthy citizens of the digital economy.”
