New Delhi, Nov. 11 -- The government on Wednesday approved the continuation of Stand-Up India Scheme for next 5 years to promote entrepreneurship among Women, Scheduled Castes (SCs) and Scheduled Tribes (STs).
The Cabinet, headed by Prime Minister Narendra Modi, has approved the extension of Stand-Up India Scheme up to March 31, 2031.
The scheme aims to promote entrepreneurship among Women, Scheduled Castes and Scheduled Tribes and provide financial assistance to additional 2.5 lakh entrepreneurs in five years, Union minister Ashwini Vaishnaw said.
The objective of the Stand-Up India Scheme was to provide loans ranging between Rs 10 lakh and Rs 1 crore from Scheduled Commercial Banks (SCBs) to at least one SC or ST borrower and one woman borrower per bank branch to set up a greenfield enterprise in manufacturing, services or trading sector and also for activities allied to agriculture.
Published by HT Digital Content Services with permission from Millennium Post.