Government disburses more than Rs 40,000 crore loans to 1.8 lakh borrowers under Stand-Up India Scheme
By MYBRANDBOOK
The Finance Ministry said that under the Stand-Up India Scheme, in the past seven years loans worth over Rs 40,000 crore were sanctioned to more than 1,80,000 entrepreneurs.
In order to promote SC, ST and women entrepreneurs at the grassroot level the scheme was launched on April 5, 2016. It focuses on economic empowerment and job creation. In 2019-20, the Stand Up India Scheme was extended till 2025.
Last April, the Ministry said that over Rs 30,160 crore worth of loans were disbursed under the scheme in the first six years, which implies that the past one year saw disbursals of around Rs 10,000 crore, or accounted for a quarter of all disbursals.
According to the government, out of the over 1,80,000 beneficiaries of the scheme till date, 1,44,787 were women entrepreneurs, while 26,889 belonged to the Scheduled Castes and 8,960 to the Scheduled Tribes.
To set up a greenfield enterprise in manufacturing, services or trading sectors and activities allied to agriculture, the scheme helps in bank loans ranging between Rs 10 lakh to Rs 1 crore to at least one SC or ST borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks (SCBs).
to qualify for the loan include that at least 51 percent stake should be held by an SC, ST or woman entrepreneur for a non-individual enterprise. SC or ST and/or women entrepreneurs, above 18 years of age with at least 51 percent controlling stake in a greenfield, non-individual enterprise are eligible for a loan.
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