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Prime Minister Modi launched a government-guaranteed, interest-free credit card for street vendors in Kerala, replacing informal loans.
Prime Minister Narendra Modi launched the PM SVANidhi Credit Card in Thiruvananthapuram, Kerala, extending interest-free, UPI-linked credit to street vendors for the first time, replacing high-interest informal loans.
The scheme, backed by the government as guarantor, has enabled thousands of vendors across India, including over 600 in Kerala, to access collateral-free bank loans.
Modi highlighted broader development achievements, including over four crore homes built under PM Awas Yojana, with 1.25 lakh in Kerala, and announced upgrades to rail connectivity, plans to make Thiruvananthapuram a startup hub, and the inauguration of a CSIR Innovation Hub and radiosurgery center.
He also cited welfare programs like Ayushman Bharat’s ₹5 lakh medical coverage, maternity support, and tax relief for salaried individuals earning up to ₹12 lakh annually.
El primer ministro Modi lanzó una tarjeta de crédito sin interés garantizada por el gobierno para los vendedores ambulantes en Kerala, que reemplaza a los préstamos informales.