NEW DELHI: Union Finance & Corporate Affairs Minister Nirmala Sitharaman has informed that more than 1.8 lakh women and SC/ST entrepreneurs have been sanctioned loans for more than Rs 40,600 crore under the Stand-Up India (SUPI) Scheme which was launched on 5th April 2016 to promote entrepreneurship at grassroots level, focusing on economic empowerment and job creation. The scheme has been extended up to the year 2025.
“Stand-Up India Scheme has created an eco-system which facilitates and continues to provide a supportive environment for setting up green field enterprises through access to loans from bank branches of all scheduled commercial banks. It has proved to be an important milestone in promoting entrepreneurship among SC, ST and women,” the Finance Minister said on the 7th anniversary of SUPI Scheme.
Sitharaman said that the scheme has touched numerous lives by ensuring access to hassle-free affordable credit to the unserved/underserved segment of entrepreneurs. She said that the scheme has provided wings to aspiring entrepreneurs to showcase their entrepreneurial acumen and the potential entrepreneurs hold in driving economic growth by being job creators is immense.
Speaking on the occasion, Union Minister of State for Finance Dr Bhagwat Kisanrao Karad said, “Stand-up India scheme is based on the third pillar of National Mission for Financial Inclusion namely “Funding the unfunded”.
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