PM SVANidhi Credit Card Launch in Kerala | 30 Jan 2026

Why in News? 

Prime Minister Narendra Modi launched the PM SVANidhi Credit Card for street vendors during an event in Thiruvananthapuram, Kerala. 

Key Points 

• PM SVANidhi Scheme: Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is a micro‑credit programme launched in June 2020 to support street vendors with collateral‑free loans and promote digital financial inclusion. 
• Objective: The credit card is designed to provide instant access to affordable working capital for street vendors. 
  • This helps them to meet business expenses, reduce dependence on informal lenders and build a formal credit track record.  
• Financial Features: The PM SVANidhi Credit Card is expected to be UPI‑linked and can offer a revolving credit facility. 
  • They are often interest‑free or at subsidized terms, enabling easy access to working capital up to predetermined limits. 
• Target Beneficiaries: The scheme targets street vendors, hawkers, roadside sellers, cart vendors and other informal urban workers, helping integrate them into the formal banking system.  
• Digital Inclusion: Besides credit access, the initiative promotes digital payments and financial literacy, strengthening the participation of small vendors in the formal economy. 
• Wider Outreach: Around 1 lakh street vendors were reported to have received PM SVANidhi loans or credit cards in Kerala during the launch, and similar implementation is underway nationwide.