Odisha Joins Nationwide PM-SVANidhi Drive, Over 1.10 Lakh Street Vendors Benefit Across State

Bhubaneswar: Under the visionary leadership of Prime Minister Narendra Modi, a nationwide programme for the disbursement of one lakh PM-SVANidhi loans and the launch of Credit Cards for PM-SVANidhi beneficiaries was organised today from Thiruvananthapuram, Kerala. Odisha actively participated in this landmark national initiative through parallel programmes held across Urban Local Bodies (ULBs) in the State.

The state-level event in Bhubaneswar was graced by Housing & Urban Development Minister Krushna Chandra Mahapatra as the Chief Guest. On the occasion, the Minister distributed PM-SVANidhi loans and newly launched Credit Cards, felicitated three successful beneficiaries—including two women street vendors—and highlighted the scheme’s role in transforming livelihoods and promoting self-reliance among urban informal workers.

Addressing the gathering, the Minister underlined that street vendors are the backbone of the urban informal economy, providing affordable goods and services while generating large-scale self-employment. He described PM-SVANidhi as a landmark initiative that restores not only livelihoods but also dignity, confidence, and financial inclusion for street vendors across the country.

The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme offers collateral-free working capital loans starting from ₹15,000, scalable up to ₹25,000 and ₹50,000 based on timely repayment and positive credit behaviour. The newly introduced PM-SVANidhi Credit Cards are expected to further strengthen business continuity by enabling beneficiaries to access flexible, revolving credit.

In Odisha, a total of 1,10,128 PM-SVANidhi loans have already been disbursed through various banking institutions, directly benefiting more than 1.10 lakh street vendor families. This milestone reflects the coordinated efforts of Urban Local Bodies, Town Vending Committees, banks, and frontline functionaries in effective implementation of the scheme.

As per Government of India guidelines, PM-SVANidhi in Odisha is being implemented through convergence with eight key social welfare and social security schemes across five Ministries and Departments. Under Pradhan Mantri Suraksha Bima Yojana (PMSBY), 12,391 beneficiaries have been enrolled with accidental insurance coverage of ₹2 lakh, while 6,421 beneficiaries are covered under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), providing life insurance of ₹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 One Nation One Ration Card (ONORC), Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYMY), the Building and Other Construction Workers Welfare Board (BoCWWB), and maternal benefit schemes such as JSY and PMMVY. A special drive is currently underway to ensure 100 per cent saturation of PMAY benefits among PM-SVANidhi beneficiaries.

Reiterating its commitment to inclusive growth, the Government of Odisha emphasised 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.