India to Launch Collateral-Free Microcredit Scheme for Gig and Domestic Workers in 2026

The Indian government plans to launch a microcredit scheme from April 2026 offering collateral-free loans up to Rs 10,000 annually to gig workers, domestic helpers, and other vulnerable groups. Modeled on the successful PM Street Vendors Atma Nirbhar Nidhi (PM-SVANidhi) scheme, it aims to support entrepreneurial activities by providing working capital, including for purchasing two-wheelers. Eligible beneficiaries are expected to be registered on the e-Shram portal with government-issued IDs and Universal Account Numbers.