BHUBANESWAR: Odisha Urban Development Minister Krishna Chandra Mahapatra has commended the PM SVANidhi scheme following its pan-India rollout by PM Modi from Thiruvananthapuram. The initiative delivers loans and credit cards to street vendors, fostering financial inclusion and business growth.
Mahapatra, addressing reporters, outlined key upgrades: loans now at Rs 15,000 without collateral, complemented by credit cards offering security and convenience. ‘This PM’s vision is bringing tangible relief and transforming vendor livelihoods,’ he noted.
Real-life impacts shine through stories like Anusuya Pradhan’s. Once unable to buy tailoring supplies, her initial Rs 10,000 loan sparked revival. Further support enabled shop rental and business expansion. ‘Municipal help and bank outreach have restored our dignity. My family now has stability and education,’ she affirmed.
Male vendor Asim Biswas described escaping informal credit traps. ‘Streamlined processes and advice have empowered investments. It’s a boon for modest earners, minimizing middlemen dependency,’ he observed.
Positioning the scheme as a dignity-driven program, Mahapatra highlighted its role for thousands of vendors. Women beneficiaries exemplify change, from tiny setups to thriving operations supporting family futures. With such grassroots success, PM SVANidhi is redefining urban informal economies, blending finance with empowerment for lasting impact.