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Stand Up India scheme: ₹25,000 crore to over 1.14 lakh accounts sanctioned

Official data suggests that women-led enterprises have dominated the sanctions so far under the scheme, which has now been extended till 2025.   | Photo Credit: Twitter/@PIBBhubaneswar

Five years after the Stand Up India scheme was launched by the government to promote entrepreneurship among women, Scheduled Castes (SC) & Scheduled Tribes (ST), banks have sanctioned more than ₹25,000 crore to over 1.14 lakh accounts, the Finance Ministry said on Sunday.

As per the scheme, bank loans between ₹10 lakh and ₹1 crore are routed to at least one SC or ST borrower, and at least one woman borrower, by each branch of the scheduled commercial banks.

Official data suggests that women-led enterprises have dominated the sanctions so far under the scheme, which has now been extended till 2025.

“₹25,586 crore has been sanctioned under the Stand Up India Scheme to over 1,14,322 accounts up to 23.03.2021 since its inception,” the Ministry said.

Over 93,000 of those loans worth ₹21,200 crore were sanctioned to women-led business enterprises. 16,258 S.C. entrepreneurs received sanctions for loans worth ₹3,335.87 crore while loans worth ₹1,049 crore were approved for 4,970 ST borrowers.

Aspiring entrepreneurs can seek a loan directly at bank branches or through an online portal or the lead district manager.


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Printable version | Dec 5, 2021 5:43:55 PM | https://www.thehindu.com/news/national/stand-up-india-scheme-25000-crore-to-over-114-lakh-accounts-sanctioned/article34238580.ece

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