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News Topical, Digital Desk : The government is preparing a major relief for millions of gig workers who deliver orders on delivery apps, work at homes, and earn a living daily. An important step is being taken to connect those who lack a permanent job, salary slip, or strong CIBIL score to the banking system. The central government will soon launch a new microcredit scheme, under which loans up to ₹10,000 will be provided without guarantee.
New microcredit scheme may start from April
According to media reports, this scheme could be implemented as early as April. Its outline has been prepared by the Union Ministry of Housing and Urban Affairs. The scheme aims to provide financial support to delivery workers, domestic helpers, and other unorganized urban workers employed on platforms like Swiggy, Zomato, Zepto, and Blinkit. The government will provide microloans of up to ₹10,000 per year to eligible beneficiaries so they can purchase bikes, mobile phones, or work-related essentials.
The scheme will be made on the lines of PM-Swanidhi
This new scheme will be inspired by the Pradhan Mantri Street Vendors AtmaNirbhar Nidhi (PM-SVANidhi) scheme. Under PM-SVANidhi, a loan of ₹10,000 is provided in the first phase, which can be upgraded to ₹20,000 and then ₹50,000 if repaid on time. Benefits include a 7% interest subsidy and promotion of digital payments. The new gig workers scheme is likely to follow a similar structure.
Who will benefit?
Only workers whose identities are recorded in government records will benefit from this scheme. Gig workers, domestic helpers, and other unorganized workers registered on the e-Shram portal are eligible for this loan. Those who possess valid documents such as Universal Account Number (UAN) and Aadhaar, and whose records are verified, will be given priority.
Trying to connect with the banking system
The government recognizes that a large number of gig workers are unable to obtain bank loans simply because they lack formal income proof or credit history. This new scheme will address this issue and help them become self-reliant.
Big step for unorganized workers
More than 310 million unorganized workers and millions of gig workers have registered on the e-Shram portal by November 2025. This scheme will not only provide financial assistance but also open the way for millions of people to connect with the formal financial infrastructure.
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