Empowering Dreams: Stand-Up India Fuels Entrepreneurial Growth

The Stand-Up India Scheme has marked a significant milestone by sanctioning Rs 29,000 crore in loans to SC/ST and women entrepreneurs between April 2022 and March 2025, according to a statement in Parliament on Tuesday. Union Finance Minister Nirmala Sitharaman highlighted the scheme's comprehensive support, including financial assistance, guidance, and training through Skilling Centres and Mentorship programs.

Established on April 5, 2016, the initiative aims to provide loans ranging from Rs 10 lakh to Rs 1 crore from Scheduled Commercial Banks. These funds target one Scheduled Caste or Scheduled Tribe borrower and one woman borrower per branch, focusing on greenfield enterprises in various sectors, including manufacturing and service. With competitive interest rates and flexible repayment terms, the program has been instrumental in funding and fostering new business ventures.

The accompanying online portal, www.standupmitra.in, serves as a resource hub, offering detailed guidance and support for SC, ST, and women entrepreneurs. From training to loan applications, the portal links prospective borrowers with banks and other essential agencies. Over the past nine years, the scheme has empowered marginalized communities, transforming business ideas into reality and significantly contributing to inclusive economic growth across the nation.

(With inputs from agencies.)