Union Minister of State for Finance Dr Bhagwat Kisanrao Karad on Tuesday, August 10, 2021, said that as of 31.07.2021, more than 1.17 lakh loans amounting to more than Rs 26,391 crore have been sanctioned to SC/ST and women borrowers under Stand Up India Scheme (SUPI), which has generated employment to more than 6 lakh people.
Stand Up India (SUPI) Scheme
SUPI scheme caters to promote entrepreneurship among the under-served sector of people like SC, ST and women entrepreneurs in starting greenfield enterprises. These enterprises may be in the manufacturing, services, agriculture-allied activities or the trading sector. In the case of non-individual enterprises, at least 51 per cent of the shareholding and controlling stake should be held by either an SC/ST or women entrepreneur.
The loans provided by the Public Sector, Private Sector and Regional Rural Banks under the Stand Up India Scheme as of 31.07.2021 since inception, stated as under:-
- Public Sector Banks sanctioned Rs 23,062.91 crore to 1,02,247 accounts holders.
- Private Sector Banks sanctioned Rs 2,845.41 crore to 12,235 accounts holders.
- Regional Rural Banks sanctioned Rs 483.56 crore to 2,605 accounts holders.
SC, ST and Women entrepreneurs benefitted from SUPI Scheme
Dr Bhagwat Kisanrao Karad said that the scheme has helped nurture entrepreneurship amongst marginalized sections of the population like Scheduled Castes (SC), Scheduled Tribes (ST) and women facing significant constraints due to lack of advice/mentorship as well as inadequate and deferred loans for setting up greenfield enterprises.
Performance of the scheme is monitored at various level
The Minister, on the evaluation of the scheme, said that the scheme is monitored and its performance is reviewed from time to time at various levels such as District Level Consultative Committee (DLCC), State Level Implementation Committee (SLIC), State Level Bankers Committee (SLBC), through video conference with banks, etc.
Margin money requirement reduced to upto 25% to upto 15%
On the impact of the scheme, the Minister said that an independent impact assessment study was conducted during the financial year 2019-20. Based on the findings of the study, consultations with stakeholders and pursuant to an announcement made by the Finance Minister in her Budget Speech for the financial year 2021-22, the margin money requirement for loans under the scheme has been reduced to ‘upto 25 per cent to upto 15 per cent’ and activities related to agriculture have also been included in the scheme.