P.M. Modi’s Stand Up India Scheme aids in facilitating bank loans amounting from 10 lakhs to 1 Crore. The intended beneficiaries of this scheme are the scheduled caste/scheduled tribe borrowers and at least one woman borrower per bank branch of scheduled commercial banks to launch their first venture in the manufacturing, services or trading sector. It is the all-important push, empowering the rural sector, especially for aspiring women entrepreneurs. So far over 1 lakh loans have been sanctioned, which indicates a hike of almost 8% in the number of loans sanctioned in March this year. The scheme has been extended up till 2025 and according to The Ministry of Finance, around 81% of account holders in the scheme are women. We expect to see the count rising in 2021 as India moves ahead towards becoming ‘Atma Nirbhar’.
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A Supportive Scheme for MSMEs – Aspiring Women Entrepreneurs Stand to Benefit
Content Team
Himanshu
Shree Lahiri
