Centre extends Stand Up India Scheme up to 2025
The Indian Govt has decided to extend the duration of the ‘Stand Up India Scheme’ up to the year 2025. The main purpose of this scheme is to offer bank loans to women and SC & ST communities to encourage them to establish a greenfield enterprise, outside of the farm sector, that is in the manufacturing, services, or trading sector.
- On 5th April 2016, Prime Minister Modi launched this scheme to facilitate loans to Scheduled Caste, Scheduled Tribe, and women borrowers, to promotes entrepreneurship among them.
- Scheduled Commercial Banks (SCBs) have extended loans between Rs. 10 lakh and Rs.1 Crore under Stand Up India Scheme.
Key Highlights:
- Stand Up India Scheme aims to facilitate loans to Scheduled Caste, Scheduled Tribe and women borrowers.
- A total of 1,16,266 loans amounting to Rs. 26204.49 crore extended under the Scheme since inception.
- Margin Money requirements for Scheme loans reduced in the Budget Speech for FY 2021-22, and Activities allied to agriculture included in the Scheme in the Budget Speech for FY 2021-22.
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