FinTech Adoption and Economic Resilience of Street Vendors in India

Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme provides collateral-free working capital loans to street vendors of India. We investigated the impact of PM-SVANidhi and FinTech adoption on the economic resilience of street vendors. The perception of PM-SVANidhi borrowers toward the loan, performance expectancy, effort expectancy, perceived risk, and economic resilience was measured. Using a sample of 400 PM-SVANidhi borrowers, we found a significant positive influence of PM-SVANidhi, Performance Expectancy, and Effort Expectancy and a negative and insignificant impact of perceived risk on economic resilience. FinTech significantly mediated PM-SVANidhi’s impact on Economic Resilience, while Perceived Risk did not moderate the relationship between FinTech adoption and Economic Resilience.