PM Modi Launches UPI-Linked SVANidhi Credit Card for Street Vendors in Kerala
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Firstpost•23-01-2026, 18:10
PM Modi Launches UPI-Linked SVANidhi Credit Card for Street Vendors in Kerala
- •Prime Minister Narendra Modi launched the UPI-linked PM SVANidhi Credit Card in Kerala, aiming to empower street vendors with accessible, interest-free digital credit.
- •The initiative provides a reliable and transparent line of credit, manageable through UPI, helping vendors expand businesses without high-interest informal lenders.
- •Street vendors can use the digital credit card for loans and transactions via mobile payment systems, promoting cashless payments and formal banking access.
- •This new credit card builds on the existing PM SVANidhi scheme, which offers working capital loans and incentives for digital transactions.
- •Over ten thousand beneficiaries in Kerala, including hundreds from Thiruvananthapuram, received the new credit cards at the launch event.
Why It Matters: PM Modi launched a UPI-linked SVANidhi Credit Card in Kerala to provide interest-free digital credit to street vendors.
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