The Stand-Up India scheme has created an ecosystem which facilitates and continues to provide a supportive environment for setting up greenfield enterprises through access to loans from bank branches of all scheduled commercial banks.
“The scheme has proved to be an important milestone in promoting entrepreneurship among SCs, STs and women. 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 to the tune of over than Rs 406 billion,” Union Finance Minister Nirmala Sitharaman said on the 7th anniversary of SUPI Scheme.
Sitharaman said that SUPI Scheme has touched numerous lives by ensuring access to hassle-free affordable credit to the unserved/underserved segment of entrepreneurs. 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.
Union Minister of State for Finance Dr Bhagwat 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. More than 80% of loans given under this scheme have been provided to women.”
