Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi, a nationwide program for the disbursement of one lakh PM-SVANidhi loans and the launch of Credit Cards for PM-SVANidhi beneficiaries was organised today in Thiruvananthapuram, Kerala. Odisha participated in this historic national initiative through parallel programs conducted across Urban Local Bodies in the state.
The event in Bhubaneswar was attended by Housing and Urban Development Minister Dr. Krushna Chandra Mahapatra as the Chief Guest. The Minister distributed PM-SVANidhi loans and Credit Cards, honored three successful PM-SVANidhi beneficiaries—including two women—who have achieved self-reliance through the scheme, and addressed the gathering, highlighting the transformative impact of PM-SVANidhi on the lives of street vendors.
In his speech, the Minister emphasised that street vendors are the backbone of the urban informal economy by providing affordable access to goods and services and generating large-scale self-employment. He stated that PM-SVANidhi is a landmark initiative that restores not just livelihoods but also dignity, confidence, and financial inclusion among street vendors.
The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme provides collateral-free working capital loans starting at Rs 15,000, which can be scaled up to Rs 25,000 and Rs 50,000 based on timely repayment and good credit behaviour. The newly launched PM-SVANidhi Credit Cards will allow beneficiaries to access flexible and revolving credit, thereby enhancing business continuity and financial resilience.
Across Odisha, a total of 1,10,128 PM-SVANidhi loans have already been disbursed through various banking institutions, directly benefiting over 1.10 lakh street vendor families. This achievement reflects the coordinated efforts of Urban Local Bodies, Town Vending Committees, banks, and field-level functionaries in effectively implementing the scheme.
In line with Government of India guidelines, PM-SVANidhi in Odisha is being implemented in conjunction with eight key social welfare and social security schemes across five Ministries and Departments. Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), 12,391 beneficiaries have been enrolled for accidental insurance coverage of Rs 2 lakh, while 6,421 beneficiaries are covered under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) with life insurance of Rs 2 lakh.
Additionally, 1,387 zero-balance accounts have been opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY). Beneficiaries have also been linked with the One Nation One Ration Card (ONORC), Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYMY), Building and Other Construction Workers Welfare Board (BoCWWB), and maternal benefit schemes like JSY and PMMVY. A special drive is underway to ensure 100% coverage of PMAY benefits among PM-SVANidhi beneficiaries.
The Government of Odisha has reiterated its commitment to last-mile delivery, digital onboarding, Aadhaar seeding, and beneficiary awareness to ensure that no eligible street vendor or family member is left out of the social security net.
On this occasion, MLA Babu Singh attended the program as a Guest of Honour. The Director of Municipal Administration, Arabinda Dakua, highlighted the significance of the program. The Director of SUDA, Rabindra Sahu, delivered the welcome address, while Shri Ratnakar Sahu, Additional Commissioner of BMC, proposed the vote of thanks.
It was reiterated that PM-SVANidhi is a key pillar of inclusive, resilient, and equitable urban growth, ensuring that those who serve the cities are themselves secure, empowered, and respected.
