: Monday, April 5, 2021, 5:40 PM IST
Banks sanctioned Rs 25,586 cr to 1.14 lakh Stand-Up India accounts in 5 years: Finance Ministry
The
Finance Ministry on Sunday said banks have sanctioned Rs 25,586 crore to about 1,14,322 beneficiaries under
the Stand-Up India Scheme in the last five years for promoting
entrepreneurship among
women and SC & STs.
The objective of Stand-Up India is to promote entrepreneurship amongst women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in trading, manufacturing and services sector, by both ready and trainee borrowers, the Finance Ministry said in a statement.
Under the scheme, bank loans between Rs 10 lakh and Rs 1 crore are provided to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.