Karnal, January 23: Prime Minister Narendra Modi launched the PM SVANidhi credit card from Thiruvananthapuram, Kerala, on Friday and initiated the distribution of loans to 1 lakh beneficiaries under the scheme. The program was telecast live across the country. A PM SVANidhi loan sanction letter distribution program was held at the Municipal Corporation office auditorium, chaired by Mayor Renu Bala Gupta, where loan sanction letters were distributed to 20 beneficiary street vendors.
The Mayor said on the occasion that this initiative by the Prime Minister will further improve financial access for street vendors. An unsecured loan of Rs. 50,000 will be provided to promote digital transactions and self-reliance, enabling them to expand their businesses and earn a good income.
She informed that street vendors who repay the second installment become eligible for the PM SVANidhi credit card. Under this scheme, credit cards will be provided to all eligible street vendors in Karnal district through various banks. The limit of these credit cards will be Rs. 30,000. She said that now, along with wealthy people, street vendors will also be able to use credit cards.
Deputy Municipal Commissioner Abhay Singh informed that under the PM SVANidhi scheme, earlier installments of Rs. 10,000, Rs. 20,000, and Rs. 50,000 were disbursed. According to the revised scheme from September 2025, the first installment is Rs. 15,000, the second installment is Rs. 25,000, and the third installment is Rs. 50,000. He informed that so far, the first installment has been disbursed to 12,215 street vendors, the second installment to 4,033, and the third installment to 1,175 street vendors in Karnal district.
The program was attended by Deputy Municipal Commissioner Abhay Singh, LDM Sushil Kumar Handuja, Ward 8 Councilor Sankalp Bhandari, Ward 20 Councilor Sudhir Yadav, nominated Councilor Vishesh Verma, representatives from various banks, Sanjay Sharma and Rawat Sharma from the CPO branch, and Municipal Corporation staff.