- According to the Minister of State (MoS) for Finance & Corporate Affairs, Shri Anurag Singh Thakur, the central government has sanctioned a loan of Rs 20,466.94 crores to over 91,000 accounts up to March 10,2020 since inception of the Stand-Up India scheme, as it counted the work being done for the empowerment of women.
About Stand Up India scheme:
- It was launched on April 5, 2016, to promote entrepreneurship for economic empowerment and job creation. To set up a new venture, it is mandatory for every branch of the scheduled commercial bank to give a loan of Rs 10 lakh to Rs 1 crore to a person belonging to Scheduled Caste (SC) or Scheduled Tribe (ST) and at least one woman.
As on February 17, 2020, more than 81% account holders under this scheme are women.
