Prime Minister Narendra Modi has launched ‘PM SVANidhi Credit Card’ during a big event in Thiruvananthapuram, Kerala. This card is specially designed for street vendors so that they can conduct their daily business with ease. The objective of this scheme is to connect small traders with digital transactions.

Up to how much limit will be given?

The initial limit of this credit card has been fixed at Rs 10,000. If the cardholder pays his bill on time, this limit will gradually be increased to Rs 30,000. The most important thing is that no interest will be charged on it for 20 to 50 days.

Important rules to card

• No cash withdrawal: Money cannot be withdrawn from ATM from this card. It will be used only for UPI and digital payments.


• Validity: This card will be valid for 5 years and will work on ‘RuPay’ network.


• Late Fee: If you delay depositing the bill even by a day, the bank will charge you additional charges.

Who will get this benefit?

The government has made it clear that this card will be given to those people who have repaid the second loan taken under PM Swanidhi Yojana on time. During the launch, PM Modi also distributed loans to 1 lakh beneficiaries.