The Pension Fund Regulatory and Development Authority (PFRDA) is aiming to bring 50 lakh beneficiaries of the PM SVANidhi scheme under the Atal Pension Yojana (APY), chairman S Ramann said on Monday.The PM SVANidhi micro-credit scheme, launched by the government on June 1, 2020, offers collateral-free loans of up to Rs 50,000 to eligible street vendors. The loans are provided in three incremental tranches—Rs 10,000 in the first tranche, Rs 20,000 in the second upon repayment, and Rs 50,000 in the third after clearing the second.“We have to tap the PM SVANidhi beneficiaries. PM SVANidhi is one of the greatest success stories of our country,” Ramann said. He added that 82 per cent of those who availed the first tranche had repaid their loans, and 80 per cent of that group was subsequently approached by banks for the next tranche.“We have developed a credit society… It is a very good segment and we must make sure that Atal Pension Yojana (APY) addresses more than 50 lakh people who are now there in PM SVANidhi, and that’s a growing number,” Ramann noted.Highlighting APY’s growth, Ramann said that more than one crore subscribers have been added every year over the past three years. In 2024-25 alone, 1.17 crore new subscribers joined, of which around 55 per cent were women.He further said that in the first five months of the current fiscal (April-August), over 50 lakh subscribers have already been added to APY, and more are expected by year-end.APY, launched on May 9, 2015, is a social security scheme designed primarily for the poor, underprivileged, and workers in the unorganised sector. Since October 1, 2022, income taxpayers are not eligible to enrol. The scheme offers a flexible minimum guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, with contributions varying between Rs 42 and Rs 1,454 depending on the age of joining and the pension amount selected.