PM Modi Launches UPI-Linked SVANidhi Credit Card for Street Vendors in Kerala

• Prime Minister Narendra Modi launched the UPI-linked PM SVANidhi Credit Card in Kerala, aiming to empower street vendors with accessible, interest-free digital credit.
• The initiative provides a reliable and transparent line of credit, manageable through UPI, helping vendors expand businesses without high-interest informal lenders.
• Street vendors can use the digital credit card for loans and transactions via mobile payment systems, promoting cashless payments and formal banking access.
• This new credit card builds on the existing PM SVANidhi scheme, which offers working capital loans and incentives for digital transactions.
• Over ten thousand beneficiaries in Kerala, including hundreds from Thiruvananthapuram, received the new credit cards at the launch event.

Why It Matters: PM Modi launched a UPI-linked SVANidhi Credit Card in Kerala to provide interest-free digital credit to street vendors.