The government has sanctioned an amount of Rs 25,586 crore under the 'Stand-Up India' scheme. The amount will be directed to about 1.14 lakh accounts up to March 23 since the inception of the scheme.

A total of Rs 3,335.87 crore has been sanctioned for 16,258 borrowers from the Scheduled Castes category under the schemed, followed by Rs 1,049.72 crore for the 4,970 borrowers in the Scheduled Tribes category, said an official statement.

Similarly, the government has sanctioned an amount of Rs 21,200.77 crore for 93,094 women borrowers under the scheme.

A total of Rs 25,586.37 has been sanctioned to 1,14,322 accounts.

The Stand Up India Scheme was launched on 5h April, 2016, and aims to promote entrepreneurship among the Scheduled Caste/ Scheduled Tribe and Women by facilitating bank loans of value between Rs 10 lakh to Rs.1 crore to at least one borrower categorised as scheduled caste or scheduled tribe and one woman borrower per bank branch of scheduled commercial banks for setting up greenfield enterprises in trading, manufacturing and services sector. In 2019-20, the Centre decided to extend the Stand Up India scheme for the entire period coinciding with the 15th Finance Commission period of 2020-25.

Stand Up India and Start Up India are Prime Minister Narendra Modi’s flagship programmes to promote entrepreneurship and create jobs.