• Stand-Up India Scheme extended until March 31, 2031.
• Target set to support at least 2.5 lakh additional entrepreneurs.
• Rs.4,111 crore Credit Guarantee Corpus approved.
• Loans of above Rs.10 lakh and up to Rs.1 crore available for eligible greenfield enterprises.

GG News Bureau
New Delhi, 11th Nov: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation of the Stand-Up India Scheme for five years until March 31, 2031, with a target of supporting at least 2.5 lakh additional entrepreneurs from women, Scheduled Castes (SCs) and Scheduled Tribes (STs).

The Cabinet has also approved a Credit Guarantee Corpus of Rs.4,111 crore to strengthen access to institutional finance for aspiring entrepreneurs and support the creation of new enterprises.

Launched in April 2016, the scheme has facilitated loans to more than 2.75 lakh women and SC/ST entrepreneurs. Its continuation aims to expand financial inclusion and encourage entrepreneurship among communities that have traditionally faced barriers in accessing formal credit.

Under the scheme, eligible women, SC and ST entrepreneurs can obtain loans to establish greenfield enterprises in manufacturing, services, trading and agriculture-allied activities.

The loan facility ranges from above Rs.10 lakh to Rs.1 crore and can be structured as a composite loan covering working capital and term credit or as a term loan. The assistance can cover up to 85% of the project cost.

The scheme provides credit guarantee coverage of 85% of the loan amount, with a standard guarantee fee of 0.50%. The government expects the extended framework to improve access to finance, encourage enterprise creation and strengthen inclusive economic growth.