Marking a significant milestone in urban livelihood development, Union Minister of Housing and Urban Affairs (MoHUA) and Power, Manohar Lal, distributed PM SVANidhi loan cheques and QR-coded credit cards to street vendors at a mega event celebrating “6 Years of PM SVANidhi”. The celebratory ceremony, held in Agartala, was graced by the presence of Tripura Chief Minister Dr. Manik Saha and other dignitaries.
The event commenced in a deeply engaging atmosphere as all the dignitaries, officials, and gathered beneficiaries listened together to the broadcast of the 134th episode of Prime Minister Narendra Modi’s Mann Ki Baat before the main proceedings
Addressing a large gathering of urban local body representatives and street vendors, Union Minister Manohar Lal stated that the Prime Minister Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) scheme has fundamentally changed how small-scale entrepreneurs do business across India.
He noted that, historically, street vendors had to rely on local moneylenders who charged exorbitant, compounding interest rates. The PM SVANidhi scheme has successfully freed them from this debt cycle by providing easy, institutional credit directly aligned with formal banking networks.
The Union Minister explained that the integration of modern digital tools, such as the newly distributed QR-coded credit cards, allows vendors day-to-day transaction flexibilities with minimal to no interest overheads, driving the nation rapidly toward complete financial inclusion.
Under the credit card system, vendors can withdraw money daily from their limit to stock goods and deposit their earnings in the evening, incurring no interest at all for up to two months. In a momentous announcement, the Union Minister also proudly shared that the central government has extended this welfare scheme through December 2030.
In a brief address during the event, Tripura Chief Minister Dr. Manik Saha shared that the state has successfully achieved 100% of its target under the scheme. Across 20 Urban Local Bodies (ULBs) in Tripura, 8,666 street vendors have been formally identified and recognised, with all of them receiving legal vending certificates and identity cards.
