Millions of street vendors operating from roadside stalls, carts, and footpaths have received a major boost as the Special PM SVANidhi Fortnight has been launched across Madhya Pradesh from August 1 to August 15, 2026. The statewide campaign aims to connect eligible vendors with formal banking services by providing access to collateral-free working capital loans, UPI-linked credit cards, and digital financial services. During the campaign, the government will focus on enrolling more eligible beneficiaries, resolving pending applications, and accelerating financial assistance to strengthen self-employment opportunities.
As part of the special drive, the state government has set an ambitious target of receiving 2 million (20 lakh) new applications under the PM SVANidhi Scheme. In addition, nearly 200,000 previously rejected applications will be reviewed to ensure that all eligible street vendors receive the benefits of the scheme.
Special meetings of the Bankers' Level Bankers Committee (BLBC) and District Level Bankers Committee (DLBC) will be held to speed up loan processing. The campaign will also coordinate with beneficiaries of the Pradhan Mantri Awas Yojana (BLC) to facilitate faster loan disbursement and issuance of UPI-linked credit cards.
During the fortnight, authorities will prioritize the quick disposal of pending loan applications, approval of new applications, issuance and activation of credit cards, and promotion of digital payments among street vendors. Urban local bodies and banking institutions will work closely to ensure eligible beneficiaries receive financial assistance within a defined timeline, making access to institutional credit faster and more efficient.
According to the state government, over 1.03 million (10.30 lakh) street vendors in Madhya Pradesh have already benefited from the PM SVANidhi Scheme. So far, more than 1.635 million loan accounts have been sanctioned, with total loan disbursements exceeding ₹2,802.84 crore. The scheme has also made a significant contribution to women's economic empowerment, with around 40% of the beneficiaries being women entrepreneurs.
Digital Payments Bring Cashback Benefits:
The state has also recorded strong progress in digital financial inclusion. More than 717,000 street vendors are actively using digital payment platforms and have collectively received over ₹53.85 crore in cashback incentives under the scheme. To encourage cashless transactions, eligible beneficiaries are also being provided UPI-linked credit cards with a credit limit of up to ₹30,000, helping small vendors manage their day-to-day working capital requirements more effectively.
Collateral-Free Loans Available in Three Stages:
PM SVANidhi Scheme, eligible street vendors can access collateral-free working capital loans in three progressive stages: ₹15,000 in the first stage, ₹25,000 in the second stage, ₹50,000 in the third stage. Beneficiaries who repay their loans on time become eligible for higher loan amounts in subsequent stages, encouraging responsible borrowing and business expansion.
Indore Leads the Country in Loan Distribution:
Madhya Pradesh has emerged as one of the leading states in implementing the PM SVANidhi Scheme. Indore Municipal Corporation has secured the top position nationally by disbursing 41,122 loan cases under the scheme. Other urban local bodies, including Bhopal, Jabalpur, Ujjain Municipal Corporations, and Sarni Municipality, have also earned national recognition for their outstanding performance in implementing the scheme and expanding financial inclusion among street vendors.
FAQs:
Q1. What is the PM SVANidhi Scheme?
The PM SVANidhi Scheme is a central government initiative that provides collateral-free working capital loans, digital payment incentives, and financial support to eligible street vendors.
Q2. What is the Special PM SVANidhi Fortnight 2026?
It is a statewide campaign in Madhya Pradesh running from August 1 to August 15, 2026, to increase beneficiary enrollment, approve pending applications, and speed up loan disbursement.
Q3. How much loan is available under the PM SVANidhi Scheme?
Eligible vendors can receive ₹15,000 in the first stage, ₹25,000 in the second stage, and ₹50,000 in the third stage based on timely repayment.
Q4. What is the target of the 2026 campaign?
The government aims to receive 20 lakh new applications and review around 2 lakh rejected applications during the special campaign.
Q5. What digital benefits are available under the PM SVANidhi Scheme?
Beneficiaries can receive UPI-linked credit cards up to ₹30,000, cashback incentives on digital payments, and access to formal banking services.
