New Delhi, Aug. 27 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the restructuring and extension of the Prime Minister Street Vendor's #AtmaNirbhar Nidhi (PM SVANidhi) Scheme, which aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.

The scheme will be implemented jointly by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS), with DFS facilitating access to loans and credit cards through banks and financial institutions.

Key features of the restructured scheme include enhanced loan amounts across first and second tranches, provision of #UPI linked RuPay Credit Card for beneficiaries who have repaid the second loan, and digital cashback i...