Over 1,10,019 loans have been extended since the launch of ‘Stand up India’ scheme as on 31.01.2021 since its inception and beneficiaries can get a loan of ₹ 10 lakh to ₹ 1 crore to start or increase their business.
This was stated by Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha on Tuesday.
Giving more details, the Minister stated that Stand Up India Scheme was launched by the Government on April 5, 2016 and subsequently extended up to the year 2025. 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.