Overview
- The Ministry of Housing and Urban Affairs is finalising a collateral‑free microcredit scheme offering loans of up to Rs 10,000 for gig, platform and domestic workers, according to media reports citing officials.
- Officials expect the programme to launch in the fiscal year beginning April 2026, though operational rules and a formal announcement have not yet been released.
- The loans are intended as working capital to finance work assets such as two‑wheelers, mobile phones and tools for income‑generating activities.
- Eligibility is likely to prioritise workers with government‑issued IDs who are registered on the e‑Shram portal and hold Universal Account Numbers; as of November 2025, the portal lists over 31.38 crore unorganised workers and more than 5.09 lakh gig and platform workers.
- The design mirrors PM‑SVANidhi, which has disbursed about 1.05 crore loans with staged tranches and a 7% interest subsidy for timely repayment, a track record officials cite in extending the model to new segments.