Odisha Pushes Street Vendor Credit Access Under PM-SVANidhi Drive

Bhubaneswar: Odisha has stepped up its efforts to strengthen the livelihoods of street vendors by expanding access to affordable credit under the PM-SVANidhi scheme. Housing and Urban Development Minister Krushna Chandra Mahapatra on Friday distributed loan sanction cards and newly introduced credit cards to eligible vendors, aligning the state with a nationwide outreach programme.

The initiative focuses on helping small traders restart and scale their businesses through easy, collateral-free working capital. Under PM-SVANidhi, vendors are eligible for an initial loan of ₹15,000, with higher limits of ₹25,000 and ₹50,000 available for those who maintain timely repayment and a healthy credit record. The credit card facility allows repeat access to funds without the need for fresh applications.

Officials said the scheme has gained strong traction in Odisha. More than 1.1 lakh loans have already been disbursed across the state, covering street vendors operating in urban local bodies and municipal areas. The programme is being implemented through coordinated efforts with banks and urban local authorities.

Beyond credit, the state is linking beneficiaries with multiple social security schemes to improve financial stability. Thousands of vendors have been enrolled under accident and life insurance programmes, while others have been connected to Jan Dhan accounts, ration portability benefits and pension schemes for unorganised workers.

Speaking at the event, the minister highlighted the role of street vendors in the urban economy, noting that small traders form the backbone of local markets and provide affordable services to city residents. Strengthening their access to formal finance, he said, is essential for inclusive urban growth.

The PM-SVANidhi drive is also expected to encourage digital transactions and improve credit histories, helping vendors transition from informal borrowing to the formal banking system.