Under the Stand-up India Scheme, loans can be obtained directly from the bank, from the Stand-up India portal or through the Lead District Manager (LDM).
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The Finance Ministry on Sunday said that about 1,14,322 beneficiaries under the Stand-up India scheme to promote entrepreneurship among women and scheduled castes and tribes in the last five years 25,586 crore has been approved.
The Stand-up India scheme was launched on 5 April 2016 to encourage Scheduled Castes, Tribes and women entrepreneurs. The objective of this scheme is to promote entrepreneurship at the grassroots level with special focus on economic empowerment and employment generation. The Finance Ministry said in a statement that the scheme has been extended till 2025 and a loan of between Rs 10 lakh and Rs 1 crore can be found under it.
The statement said that under this scheme, loans can be availed directly from the bank, from the Stand-up India portal or through the Lead District Manager (LDM).
What is the government’s stand-up India scheme
Let the Finance Ministry introduce several schemes in the last 7 years, in which there is a special provision for women empowerment, Stand-up India is also one of them. The government’s objective behind this scheme is to extend the benefit of institutional loans to such sections where they did not have access before. These include Scheduled Castes, Scheduled Tribes and Women Businessmen. By this, these people will also be given an opportunity to participate in the economic progress of the nation.
Under this scheme, at least one member of Scheduled Caste and Scheduled Tribe and at least one woman has to provide bank loan of Rs 10 lakh to one crore from each branch of Scheduled Commercial Bank (SCB), so that she is green. Be able to set up field enterprises. So far more than 1 people have been benefited through the scheme and a loan of Rs 23827 crore has been given.
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