Centre Reports Record Loan Sanctions of Rs 61,020 Crore under Stand-Up India Scheme
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Synopsis
The Stand-Up India scheme has achieved record loan sanctions, climbing from Rs 16,085.07 crore in 2019 to Rs 61,020.41 crore by March 2025, emphasizing its role in empowering SC, ST, and women entrepreneurs across India.
Key Takeaways
- Significant growth in loan sanctions.
- Increased empowerment of SC, ST, and women entrepreneurs.
- Loans facilitate new business ventures.
- Focus on inclusive economic growth.
- Transformative impact on communities.
New Delhi, April 5 (NationPress) The Stand-Up India scheme has demonstrated extraordinary progress over the years, with the cumulative loan amount approved increasing from Rs. 16,085.07 crore on March 31, 2019, to an astounding Rs 61,020.41 crore by March 17, 2025, as reported by the government.
This signifies a notable growth, underscoring the scheme’s broadening influence in empowering entrepreneurs throughout the nation.
SC accounts escalated from 9,399 to 46,248, with loan amounts surging from Rs 1,826.21 crore to Rs. 9,747.11 crore during the same period.
ST accounts expanded from 2,841 to 15,228, with sanctioned loans soaring from Rs. 574.65 crore to Rs. 3,244.07 crore.
“From 2018 to 2024, women entrepreneurs experienced an increase from 55,644 to 1,90,844 accounts, with approved amounts climbing from Rs. 12,452.37 crore to Rs. 43,984.10 crore,” stated the Ministry of Finance.
The Stand-Up India scheme has been a groundbreaking initiative, enabling SC, ST, and women entrepreneurs to transform their business concepts into reality.
“With impressive milestones in loan approvals and disbursements, it continues to promote inclusive growth. This scheme is not solely about financing; it’s about fostering opportunities, inspiring progress, and converting aspirations into success,” the ministry highlighted.
The initiative has shown significant financial empowerment for the SC, ST communities, and women entrepreneurs from March 2018 to March 2024.
Since its inception on April 5, 2016, the Stand-Up India scheme has been committed to empowering SC, ST, and women entrepreneurs.
It aims to eliminate obstacles by offering bank loans to assist them in launching new enterprises. Over the last 7 years, the scheme has not only financed businesses but has also cultivated dreams, created jobs, and propelled inclusive growth across India, according to the Ministry of Finance.
The Stand-Up India scheme provides bank loans ranging from Rs 10 lakh to Rs 1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for establishing a greenfield enterprise.
This business may fall within the manufacturing, services, agri-allied activities, or trading sectors. In the case of non-individual entities, a minimum of 51% of the shareholding and controlling interest must be held by either an SC/ST or woman entrepreneur.
