Empowering Entrepreneurs: Stand-Up India Scheme Fuels Growth

Since its launch, the Stand-Up India Scheme has sanctioned Rs 62,791 crore to 2,75,291 loan accounts, promoting entrepreneurship among SC/ST and women. Loans are facilitated for greenfield enterprises, with Rs 17,811.72 crore disbursed for interest subsidies on short-term crop loans, while P2P lending remains regulated by RBI guidelines.

Parliament was informed on Tuesday that banks have sanctioned Rs 62,791 crore to 2,75,291 loan accounts under the Stand-Up India Scheme since its inception.

Launched on April 5, 2016, the scheme aims to foster entrepreneurship among SC/ST and women by providing bank loans between Rs 10 lakh and Rs 1 crore to at least one SC/ST borrower and one-woman borrower per bank branch of Scheduled Commercial Banks, as stated by the Minister of State for Finance, Pankaj Chaudhary.

Additionally, Rs 17,811.72 crore was reported as the total interest subsidy disbursed under the Modified Interest Subvention Scheme for 2024-25. Moreover, the Peer-to-Peer lending platforms are regulated by RBI's guidelines, ensuring proper lending practices and borrower protection.

(With inputs from agencies.)