PM Modi Launches SVANidhi Credit Card for Street Vendors: Instant Credit, Digital Push

• PM Modi launched the SVANidhi Credit Card on January 23, 2026, alongside new train services for Kerala from Thiruvananthapuram.
• The UPI-linked RuPay credit card offers interest-free, revolving credit for street vendors, facilitating immediate access to funds for business and personal needs.
• Part of the restructured PM SVANidhi scheme, it aims to provide financial inclusion and formal recognition to street vendors, addressing their limited access to formal credit.
• The scheme, extended until March 31, 2030, with an outlay of Rs 7,332 crore, targets 1.15 crore vendors, including 50 lakh new beneficiaries.
• It offers cashback incentives for digital transactions and links vendors to welfare initiatives, financial literacy, and skill development.

Why It Matters: PM Modi's SVANidhi Credit Card empowers street vendors with instant, interest-free credit and digital financial inclusion.