Govt sanctions over Rs 25K cr under ‘Stand-Up India’

Centre has sanctioned an amount of Rs 25,586 crore under the ‘Stand-Up India’ scheme to over 1.14 lakh accounts up to March 23 since the inception of the scheme.

A total of Rs 3,335.87 crore has been sanctioned for 16,258 borrowers from the Scheduled Castes category under the schemed, followed by Rs 1,049.72 crore for the 4,970 borrowers in the Scheduled Tribes category, said an official statement.

Similarly, the government has sanctioned an amount of Rs 21,200.77 crore for 93,094 women borrowers under the scheme.

A total of Rs 25,586.37 has been sanctioned to 1,14,322 accounts.

Stand up India scheme was launched on April 5, 2016 to promote entrepreneurship at grassroots level focusing on economic empowerment and job creation. This scheme has been extended up to 2025.

The objective of the scheme to promote entrepreneurship amongst women, Scheduled Castes (SC) and Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in trading, manufacturing and services sector, by both ready and trainee borrowers.