Gig workers and domestic helpers may soon get collateral-free microloans; here's what Centre says

In a move to ease financial strains, the central government is set to introduce a microcredit initiative, likely by April 2026, aimed at providing collateral-free loans of up to Rs 10,000 annually to gig workers, domestic helpers, and other vulnerable segments, according to an IANS report.

The new scheme is expected to follow the PM Street Vendors AtmaNirbhar Nidhi (PM–SVANidhi) model, which currently helps street vendors with small loans for their businesses.

Under PM–SVANidhi, vendors first get a loan of Rs 10,000, and if they repay on time, they can access larger loans of Rs 20,000 and Rs 50,000. Along with it, they also get a 7 per cent interest subsidy and extra benefits for using digital payments. The new program intends to provide assistance to gig and platform workers who are very often without formal credit histories that are needed for buying two-wheelers, smartphones, or other necessary assets for their work.

Add Zee Business as a Preferred Source

Eligibility, registration and coverage

According to officials, the new loan scheme will likely adopt a verification approach similar to PM‑SVANidhi. Workers registered on the government’s e‑Shram portal, holding government-issued identity cards and a Universal Account Number, are expected to be eligible.

To be eligible under PM‑SVANidhi, vendors need to have a licence and be listed in local government surveys. By November 2025, over 313.8 million unorganised workers, including more than 5.09 lakh gig and platform workers, had registered on the e‑Shram portal. Those verified on the portal will get priority for the new loans.

The updated PM‑SVANidhi scheme aims to help 1.15 crore people, including 50 lakh new beneficiaries. The loan programme will continue until March 31, 2030, with a total budget of Rs 7,332 crore.

Also Read: End of 10-minute delivery? Centre steps in as safety concerns grow for gig workers

Loan enhancements and wider reach

Key features of the revamped scheme include higher loan amounts in the first and second tranches and the introduction of a UPI-linked RuPay Credit Card for those who have repaid their second loan on time. The scheme’s reach is being expanded beyond statutory towns to include census towns and peri-urban areas in a phased manner.

The move comes amid scrutiny over gig workers’ working conditions. Not too long ago, the Centre reportedly asked quick-commerce companies to drop the controversial '10-minute delivery' promise, following concerns over gig worker safety.

Blinkit, which is owned by Eternal, has subtly let go of its "10-minute delivery" slogan and opted for "30,000+ products delivered at your doorstep" instead. The modification happened after the Union Ministry of Labour and the quick-commerce companies talked to each other with the objective of helping the delivery personnel who are under the stress of super-fast delivery targets, to have better working conditions.

Also Read: Zomato’s priority can’t change for…: Deepinder Goyal on co-founder exits, 10-minute delivery, gig workers & more

Gig workers safety and industry response

The advertising change comes after gig worker's nationwide strike on New Year’s Eve 2025, which was staged in protest of physical strain, safety risks, and unstable incomes caused by aggressive delivery timelines. Workers pointed out that the push to meet 10-minute targets forced risky behaviour on the road while limiting fair earnings.

While Blinkit has removed the explicit promise from its apps and promotions, competitors such as Zepto, Swiggy Instamart, and BigBasket continue to display similar claims, though sources indicate they may also revise messaging following government intervention.

Earlier, Eternal Group CEO Deepinder Goyal defended the model, saying, “Faster deliveries happen because our stores are located close to customers, not because riders are asked to speed,” adding that delivery partners are not shown timers and aren’t under direct pressure to meet the 10-minute promise.