PM SVANidhi Takes Street Vendors Forward #pmmodi

PM SVANidhi has brought lakhs of street vendors into the formal financial system, providing them with access to formal credit through SVANidhi Credit Cards. Studies show that beneficiaries have seen their average annual income rise by over 20%, along with improvements in housing, nutrition, healthcare access and children’s education. The scheme has now been extended until 2030. PM SVANidhi’s success would not have been possible without UPI, which has played a major role in its implementation. The next chapter of fintech, should focus on using technology to analyse and anticipate the needs of small businesses, enabling tailored access to credit, savings, pensions, insurance and other financial services. The focus now must be on taking fintech beyond payments and expanding access to a wider range of financial services: PM Narendra Modi at Global Fintech Fest 2026, Mumbai

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