New Delhi, Nov. 12 -- The Union Cabinet has approved the continuation of the Stand-Up India scheme for five years until March 31, 2031, with a target of supporting 2.5 lakh additional entrepreneurs from women, Scheduled Castes (SCs) and Scheduled Tribes (STs).

The Cabinet, chaired by Prime Minister Modi, also approved a Rs 4,111-crore credit guarantee corpus to support lending under the scheme.

Launched in April 2016, the scheme has facilitated loans to more than 2.75 lakh women, SC and ST entrepreneurs, according to the government.

Loan Support for Greenfield Enterprises

Under the scheme, eligible women and SC/ST entrepreneurs can access loans ranging from above Rs 10 lakh to Rs 1 crore to establish greenfield enterprises.

Loans can...