Beneficiary street vendors in Tiruppur City Corporation are being provided with the second tranche of funding under the Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) scheme, in accordance with the enhancements effected through restructuring.
Under the restructured scheme, the first tranche of loan amount forwarded as micro-credit with interest waiver provision has been raised to ₹15,000 from ₹10,000.
The scheme envisages return of the first tranche of interest-free loan within 10 months, for gaining eligibility for the second tranche of ₹25,000 with a repayment period of 12 months.
Prior to restructuring of the scheme, ₹20,000 was forwarded as loan under the second tranche.
Timely payment of the second tranche entitles the beneficiary street vendor to the third tranche of ₹50,000 with a 36-month repayment period.
The street vendors qualifying for the third tranche of funding are also provided with UPI-linked credit cards with upper limit of ₹ 30,000.
The amount, according to the Union Ministry of Housing and Urban Affairs, helps vendors to meet their emergent needs as also supports personal financial requirements.
Extension of the lending period under PM SVANidhi scheme till March 31, 2030 has apparently enabled local bodies to scale up its reach.
The Tiruppur City Corporation is in the process of profiling over 10,000 street vendors under the scheme, it is learnt.
The local bodies have been creating awareness among the street vendors about the scheme and carrying out registrations through periodic camps.
They are being apprised about the scope for earning back cash up to ₹100 per month for 12 months on retail digital transactions, and ₹100 per quarter for four quarters on merchant digital transactions for wholesale purchase.
The scheme has been building the capacity of the street vendors with a focus on entrepreneurship, financial literacy, digital skills, and marketing through convergence.
Though a Central Government initiative, the Union Ministry believes that it could be effectively implemented through urban local bodies.
Published – January 27, 2026 10:03 pm IST
