The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is steadily changing lives in Uttarakhand’s hill districts, with Chamoli emerging as a striking example of how micro-credit can rebuild livelihoods and restore dignity. More than 600 street vendors in Chamoli have so far benefited under the initiative, gaining access to working capital, financial inclusion, and renewed confidence in their businesses.
Financial Inclusion for the Marginalised
Launched in June 2020, the PM SVANidhi scheme provides collateral-free working capital loans of up to ₹10,000, repayable in monthly instalments, with incentives for digital transactions and timely repayment. For many small traders in Chamoli—fruit sellers, tea vendors, cobblers, and local artisans—this has been their first formal entry into the banking system.
Officials in the Chamoli district administration said that the scheme is not merely about financial assistance but about empowerment. The loans have enabled vendors to expand their stalls, restock goods, and face unexpected expenses, particularly during the challenging months of heavy rainfall when footfall is disrupted.
Stories of Change
Many beneficiaries have reported transformative results. A vegetable vendor in Gopeshwar said that earlier she often had to borrow from informal moneylenders at exorbitant rates, but now with SVANidhi support, her earnings are her own. Another street food seller in Joshimath shared that the scheme allowed him to add new items to his menu and invest in basic hygiene equipment, which drew more customers.
These stories highlight the scheme’s wider social impact—restoring self-respect to workers who form the backbone of urban and semi-urban economies in hill districts.
Government Push in Uttarakhand
According to state officials, Uttarakhand has been proactive in implementing the scheme across all its districts. Special drives and registration camps have been organised, with banks instructed to fast-track applications. In Chamoli alone, over 600 vendors have availed themselves of the scheme so far, and the number is expected to rise as awareness deepens.
Chief Minister Pushkar Singh Dhami has repeatedly emphasised the importance of such initiatives for strengthening livelihoods. He has noted that schemes like PM SVANidhi are in line with the vision of an AtmaNirbhar Bharat, ensuring that no section of society is left behind in the development process.
Digital Empowerment
One of the unique features of PM SVANidhi is its emphasis on digital transactions. Beneficiaries receive cash-back incentives for using digital payment modes such as UPI and QR codes. This not only modernises small businesses but also builds digital literacy in remote districts like Chamoli. Vendors have reported that customers increasingly prefer online payment options, a trend that has made their work easier and more transparent.
Future Outlook
The Chamoli administration has indicated that awareness campaigns will continue, with particular focus on including women vendors, artisans, and displaced workers from disaster-affected regions. Officials are confident that by the end of the current financial year, hundreds more will be brought under the fold of the scheme.
The success of PM SVANidhi in Chamoli shows how targeted government interventions can bring immediate, visible relief to vulnerable communities. By combining financial inclusion, digital empowerment, and social security, the scheme is not just improving incomes but also instilling a renewed sense of self-reliance among street vendors.
As Uttarakhand faces recurring challenges of natural disasters and economic disruptions, PM SVANidhi has emerged as a steady pillar of support for those at the grassroots, embodying the government’s promise of development for all.
