Stand up India Scheme was launched on 5th April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. This scheme has been extended up to the year 2025. Recognising the challenges that energetic, enthusiastic, and aspiring SC, ST and women entrepreneurs may face many challenges in converting their dream to reality, Stand-Up India was launched to promote entrepreneurship amongst women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in manufacturing, services or the trading sector and activities allied to agriculture.
On the occasion, Union Finance & Corporate Affairs Minister Nirmala Sitharaman said, “It is a matter of pride and satisfaction for me to note that more than 1.8 lakh women and SC/ST entrepreneurs have been sanctioned loans for more than Rs. 40,600 crore.”“The 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. Stand-Up India Scheme 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 Stand-up India Scheme has touched numerous lives by ensuring access to hassle-free affordable credit to the unserved/underserved segment of entrepreneurs. The Finance Minister said that the scheme has provided wings to aspiring entrepreneurs to showcase their entrepreneurial acumen and the potential entrepreneurs hold in driving economic growth and building a strong ecosystem by being job creators is immense.
On the 7th anniversary of the Stand-Up India Scheme, 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”. Scheme has ensured availability of seamless credit flow from branches of Schedule Commercial Banks to SC/ST and women entrepreneurs. Scheme has been instrumental in improving the standards of living for entrepreneurs, their employees and their families.” Dr Karad said, “More than 1.8 lakh entrepreneurs have benefitted from this scheme during past seven years.” “It is also a matter of immense pleasure for me that more than 80% of loans given under this scheme have been provided to women,” Dr Karad added.
