Over Rs 30,610 crore has been sanctioned under the Stand Up India scheme to 1,33,995 accounts in six years for the reason that initiative’s inception.
The Stand Up India scheme was launched in April 2016 to advertise entrepreneurship amongst Scheduled Caste, Scheduled Tribe and ladies entrepreneurs, specializing in financial empowerment and job creation. As on March 21, 2022, about 133,995 accounts have obtained advances under the scheme, out of which 19.310 have been held by SCs; 6,435 by STs and 108,250 by girls.
Loan under the scheme may be availed by SC/ST and ladies entrepreneurs above 18 years of age, and is obtainable for less than greenfield tasks.
In case of non-individual enterprises, 51 per cent of the shareholding and controlling stake must be held by both SC/ST or girls entrepreneurs. The margin cash to be introduced in by a borrower is as much as 15 per cent of the challenge value, and the applicant has to contribute at the least 10 per cent of the challenge value as personal contribution.
Marking the sixth anniversary of the scheme, Prime Minister Narendra Modi tweeted “India is full of entrepreneurial energy and the Stand Up India initiative is a part of the ongoing efforts to channelise this spirit to further progress and prosperity.”
|Category of debtors||Number of accounts||Amount Sanctioned (in Rs crore)|
The authorities understands the potential these rising entrepreneurs have in driving financial development by means of their roles as not simply wealth-creators but additionally job-creators, Finance Minister Nirmala Sitharaman mentioned in an announcement.
“As more and more beneficiaries from the underserved segments of entrepreneurs are targeted for coverage, we would make significant strides towards building an Atmanirbhar Bharat,” Sitharaman mentioned.