Rs 20,000 crores of loans sanctioned under Stand Up India Scheme since inception
By MYBRANDBOOK
The Stand up India scheme aims at promoting entrepreneurship among women and scheduled castes and tribes. The scheme is anchored by Department of Financial Services (DFS), Ministry of Finance, Government of India. Stand-Up India Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.
As per the record of the government Rs 20,466.94 crores of loans have been sanctioned under Stand Up India Scheme to over 91,000 accounts upto 10.03.2020 since inception of the Scheme. This was stated by Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs.
Giving the details of the Scheme, the Minister said that Stand Up India Scheme was launched by the Government on 5th April, 2016. The Scheme facilitates bank loans between Rs. 10 lakh and 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 (SCBs), for setting up greenfield enterprises in the manufacturing, services or the trading sectors.
State-wise details of loans extended under the Scheme, as on 10th March, 2020, is placed at the Annexure
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