Over 98,000 Loans Sanctioned Under Stand-Up India Scheme: Finance Ministry

Over 98,000 Loans Sanctioned Under Stand-Up India Scheme: Finance MinistryFinance Minister Nirmala Sitharaman (representative image)

The Finance Ministry on Friday (19 December) said that 98,449 loans have been sanctioned so far under the Stand-up India scheme which is aimed at empowering enterpreneurs from Scheduled Castes (SC), Scheduled Tribes (ST) along with women entrepreneurs.

The scheme promotes setting up of greenfield enterprise by the concerned communities in manufacturing, services and trading sectors.

Under the scheme, loans between Rs 10 lakh to Rs 100 lakh are provided to the beneficiaries.

A tweet by the Finance Ministry also said that Pradhan Mantri Jan Dhan Yojna (PMJDY) launched with an aim of 'banking the unbanked', has achieved "tremendous success in providing affordable financial services to Indian citizens".

Commenting on the progress, Hans Raj Chugh, Partner ASHM & Associates said: "As the number of operational account increases, the number of transactions across the country also get increase which is a positive indicator of economic development of the nation."

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)