The Government of India has extended the duration of the ‘Stand Up India Scheme’ up to the year 2025. The scheme was launched by the Prime Minister on 05 April 2016 to facilitate loans to Scheduled Caste, Scheduled Tribe and women borrowers, to promote entrepreneurship among them.
About the scheme:
- The scheme offers bank loans to women and SC & ST communities to encourage them in setting up a greenfield enterprise, outside of the farm sector, that is in the manufacturing, services or trading sector.
- A total of 1,16,266 loans amounting to Rs. 26204.49 crore has been extended under the Scheme since its inception. The loan under Stand Up India Scheme is extended by Scheduled Commercial Banks (SCBs) between Rs. 10 lakh and Rs.1 Crore.