Baramulla joins Nationwide Rollout of PM SVANidhi Credit Card

• DC distributes Sanction Letters among 14 eligible Street Vendors

BARAMULLA: A large number of people gathered in the meeting hall of DC office Baramulla to virtually take part in the nationwide rollout of the PM SVANidhi Credit Card initiative, launched by Hon’ble Prime Minister, Shri Narendra Modi from Kerala. 

The programme was presided by Deputy commissioner Baramulla, Minga Sherpa and was attended by the officers from various departments and a large number of people who attentively listened to the Prime Minister’s address, which underscored the importance of financial inclusion and easy access to institutional credit for street vendors.

On the occasion, the DC Baramulla distributed sanction letters among 14 street vendors, reaffirming the district administration’s commitment towards empowering small traders and strengthening their livelihoods. 

The DC highlighted that the PM SVANidhi Credit Card is a significant step towards providing flexible and hassle-free credit support to street vendors, enabling them to meet their working capital requirements and manage day-to-day business needs more efficiently.

The PM SVANidhi Credit Card initiative forms part of the restructured PM SVANidhi scheme and is aimed at offering UPI-linked RuPay credit cards to eligible street vendors who have demonstrated good repayment behaviour under earlier loan tranches.

The initiative allows vendors to access credit digitally, encourages cashless transactions, and helps build a formal credit history, thereby enhancing their financial credibility and long-term economic security.

Meanwhile, Minga Sherpa urged street vendors to actively enroll and make optimum use of the PM SVANidhi Credit Card to strengthen their businesses and achieve sustainable growth.