Prime Minister's Street Vendors' Self-Reliant Fund (PM SVANidhi) scheme was launched by the Prime Minister in June 2020. This scheme provides loans to over 6.8 million street vendors. This scheme is specifically designed for those working in the urban informal sector.  Under the PM SVANidhi scheme, street vendors are provided with working capital loans of up to ₹10,000. Additionally, loans of ₹20,000 and ₹50,000 come with a 7% interest subsidy. This scheme was launched by the Ministry of Housing and Urban Affairs. This scheme has led to positive improvements in the economic well-being of street vendors, enabling economic development for both street vendors and other sectors. The central and state governments are continuously working to increase the economic development and income of street vendors. This research utilized analytical research methodology. For the proposed research paper, Varanasi district was selected. Data was collected through interviews. Data obtained for this scheme from managers of various bank branches in the study area was analyzed. Secondary data was also collected to assess the benefits received by street vendors through this scheme and the improvements in their living standards. For this purpose, information was collected from banking branches, microfinance banks, websites, libraries, newspapers, and magazines, and analytical evaluation was conducted.