PM Modi Launches PM SVANidhi Credit Card to Boost Financial Inclusion

Prime Minister Narendra Modi announced the launch of the PM SVANidhi Credit Card during an event in Kerala on January 23, 2026, marking a significant step towards deepening financial inclusion for street vendors across the country.

About the PM SVANidhi Credit Card
The card issued under the scheme will be a RuPay retail (personal) credit card with revolving credit facilities. It will be offered by public and private sector banks, along with authorised credit card issuers.

Eligibility Criteria
The initiative is designed for street vendors who have fully repaid the first two tranches of loans under the PM SVANidhi Scheme. Vendors demonstrating credit discipline will be eligible for the credit card facility.

Credit Limit and Validity

• Total Credit Limit: ₹30,000
• Initial Operating Limit: ₹10,000
• Enhancement: Gradual increase based on satisfactory usage and repayment behaviour
• Validity: Five years from the date of issue

Interest-Free Credit Facility
Cardholders will be eligible for an interest-free credit period of 20 to 50 days, depending on the issuer’s policy. This feature is expected to improve liquidity management and support vendors in meeting day-to-day business expenses.

Digital Integration with UPI
The PM SVANidhi Credit Card will be linked to the beneficiary’s UPI ID, enabling seamless and simplified digital payments, and encouraging the adoption of cashless transactions.