New Delhi, Aug. 27 -- The Union Cabinet on Wednesday approved the restructuring and extension of the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, extending its lending period from the earlier deadline of December 31, 2024, to March 31, 2030.

As per a press release by the Cabinet, the move comes with a total financial outlay of Rs. 7,332 crore and is expected to benefit around 1.15 crore street vendors, including 50 lakh new beneficiaries.

Implementation of the scheme would be the joint responsibility of the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS), with DFS being responsible for facilitating access to loans/ credit cards through banks/financial institutions, as ...