Current Affairs In Detail

More the Rs.20 crore has been sanctioned under the Stand Up India Scheme
More the Rs.20 crore has been sanctioned under the Stand Up India Scheme

The main objective of the Stand Up India Scheme is to promote entrepreneurship among the scheduled caste (SC), scheduled tribes (ST), and women by loaning money to start a new business.

18 March 2020 Current Affairs:Ministry of Finance reported that more than Rs.20,466.94 crores of loans had been sanctioned under Stand Up India Scheme to over 91,000 accounts up to 10 March 2020. The information was shared by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs.

Stand Up India Scheme:
Stand Up India Scheme was launched by the Government of India on 5 April 2016 by the Prime Minister Narendra Modi. It is a part of the Department of Financial Services' (DFS) to promote entrepreneurial projects.
Aim:
The main objective of the Stand Up India Scheme is to promote entrepreneurship among the scheduled caste (SC), scheduled tribes (ST), and women by loaning money to start a new business.

The scheme will lend bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks (SCBs). The loan will facilitate the borrower to set up greenfield enterprises in the manufacturing, services, or the trading sectors.
The people who avail the benefits of the scheme will be informed about the online platforms, other resources of e-marketing, web-entrepreneurship, factoring services, and registration.