Livelihoods: The central government has sanctioned INR 25,586 crore under its Stand-Up India scheme, to more than 1.14 lakh accounts since the inception of the scheme in 2016.
The Stand-Up India scheme was launched on April 5th, 2016 to promote entrepreneurship at the grassroots in order to drive economic empowerment and job creation. Under the scheme, loans in the range of INR 10 lakh to 1 crore are provided to at least one borrower from a Scheduled Caste (SC) or Scheduled Tribe (ST), and at least one woman borrower, per bank branch, to set up a greenfield enterprise.
Out of the total sanctioned amount, INR 21,200.77 crore has been received by women-led business enterprises, followed by borrowers from the SC category who received INR 3,335.87 crore. For borrowers from ST category, INR 1,049.72 crore has been sanctioned under the scheme.
Official data suggests that women-led enterprises have dominated the sanctions so far, with more than 81 percent account holders being women.
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