FinMin: Rs25,586cr sanctioned to over 1 lakh bank accounts under Stand-Up India Scheme in 5 years

The main purpose of Stand-Up India is to Promote entrepreneurship amongst women, SC & ST category.

Apr 06, 2021 02:04 IST India Infoline News Service

In India there is a large group of potential entrepreneurs particularly women and Scheduled Caste (SC), Scheduled Tribes (ST) who want to set up an enterprise of their own, which allows them to grow and thrive. Such entrepreneurs are spread across country and are bubbling with ideas on what they can do for themselves and their families.

Aspiring SC, ST and women entrepreneurs are energetic and enthusiastic but may face challenges in converting their dream to reality. Recognizing these challenges, Stand up India Scheme was launched on 5th April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. This scheme has been extended up to the year 2025.

As the fifth anniversary of Stand Up India Scheme, the achievements of this Scheme are:

Rs25,586cr has been sanctioned under Stand Up India Scheme to over 1,14,322 accounts upto 23rd March 2021 since inception of the Scheme.

The objective of Stand-Up India is to promote entrepreneurship amongst women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in trading, manufacturing and services sector, by both ready and trainee borrowers.

The main purpose of Stand-Up India is to:
  • Promote entrepreneurship amongst women, SC & ST category.
  • Provide loans for setting up greenfield enterprises in manufacturing,  services or the trading sector & activities allied to agriculture by both ready and trainee borrowers.
  • Facilitate bank loans between Rs.10 lakh to Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.

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