Digitalisation of Working Capital Loans under
PM SVANidhi Scheme

Mission
To achieve end-to-end digital and assisted Straight-Through Processing (STP) flow of credit under the PM SVANidhi Scheme for street vendors.
Paperless
Process
Reduced
TAT
Reduced
Costs
Street vendors are a critical constituent of the Indian urban economy. Given the hardships they faced during the COVID-19 pandemic, the government launched the PM SVANidhi scheme to provide working capital loans to street vendors, helping them resume business. With over 41% of street vendors being women, we at RBIH undertook to digitalise the credit flow process to ensure they have the means to obtain convenient and affordable credit at the click of a button, to help grow their businesses and become self-reliant.
We started by understanding key issues of the process:
- High Turnaround Time (TAT) of up to 26 days.
- Potential Income Loss from multiple visits to Banks.
Solution for Digitalisation of Loans under
PM SVANidhi Scheme
We are working with industry partners to digitalise the lending process, right from application to disbursement, to address the main pain points faced by street vendors. Here’s a summary of the project lifecycle:

Analysis and Planning:
Auditing the existing loan processes to identify pain points and formulate a digital solution.

Development:
Building a digital solution, including the design and implementation of a front-end platform for onboarding loan applications and automating sanctions and approvals.

Testing and Refinement:
Ensuring efficiency, security, and ease of use with rigorous testing and continual feedback from stakeholders.

Implementation and Rollout:
Initiating a pilot project in partnership with banks to evaluate adoption, and leverage learnings for implementation at scale.