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Centre extends ‘Stand Up India Scheme’ to 2025

Topics Covered: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Centre extends ‘Stand Up India Scheme’ to 2025:


Context:

The Government of India has extended the duration of ‘Stand Up India Scheme’ up to the year 2025.

 

Performance of the scheme:

  • Banks have sanctioned Rs 26,204 crore to about 1,16,266 beneficiaries under the Scheme in the last five years.
  • The scheme has benefited more than 93,094 women entrepreneurs.

 

About the ‘Stand Up India Scheme’:

  • Launched in 2016.
  • It seeks to promote entrepreneurship at the grass-root level of economic empowerment and job creation.
  • The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres (SUCC).
  • Loans under the scheme are available for only Greenfield project.

 

The objective of the scheme is:

To facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs 10 lakh and Rs 1 crore to atleast one SC or ST borrower and one woman borrower per bank branch for setting up green field enterprise in manufacturing, service or trading sector.

 

Insta Curious: 

Do you know about Startup India Seed Fund Scheme? Reference: Click here

 

InstaLinks:

Prelims Link:

  1. Key features of the scheme.
  2. Eligibility.
  3. Benefits.

Mains Link:

Discuss the significance of the scheme.

Sources: the Hindu.