Over 1.1 lakh loans disbursed since launch of 'Stand up India' scheme

Union Ministry of Finance on Tuesday informed the Rajya Sabha that over 1,10,019 loans have been extended since the launch of the 'Stand up India' scheme.

"Over 1,10,019 loans have been extended since the launch of 'Stand up India' scheme as on January 31, 2021, since its inception and beneficiaries can get a loan of Rs 10 lakh to Rs 1 crore to start or increase their business," the statement said.

This was stated by Anurag Singh Thakur, Union Minister of State for Finance and Corporate Affairs, in a written reply to a question in Rajya Sabha today.

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.

( With inputs from ANI )