♦ The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme.

♦ The lending period, which was earlier valid till December 31, 2024, has now been extended to March 31, 2030.

♦ The total outlay for the restructured scheme is Rs.7,332 crore.

♦ The government said the revised scheme will cover 1.15 crore beneficiaries, including 50 lakh new street vendors.

♦ Implementation will be jointly handled by the Ministry of Housing and Urban Affairs and the Department of Financial Services.

♦ Under the new provisions, the loan amount in the first and second tranches has been increased.

♦ The first tranche will now provide up to Rs.15,000, instead of Rs.10,000 earlier, and the second tranche has been raised to Rs.25,000 from Rs.20,000.

♦ The third tranche of Rs.50,000 remains unchanged.

♦ Beneficiaries who repay the second loan will also become eligible for a UPI-linked RuPay Credit Card.