1,11,619 loans amounting to Rs. 24,985.27 crore extended under Stand Up India Scheme since inception
1,11,619 loans amounting to Rs. 24,985.27 crore extended under Stand Up India Scheme since inception The objective of the Stand Up India Scheme is to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services or trading sector. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today. Giving more details, the Minister stated that as on 02.03.2021, a total of 1,11,619 loans amounting to Rs. 24,985.27 crore have been extended under the Scheme since inception. Pursuant to an announcement made in the Finance Minister’s Budget Speech for F.Y.2021-22, the margin money requirement for loans under this has been reduced from ‘upto 25%’ to ‘upto 15%’ and activities allie