Government Provided 55,000 Loans under Stand-Up India Scheme
The Ministry of Finance announced yesterday that it had already provided about 55,000 loans under the Stand-Up India (SUPI) Scheme.
The public sector provided the most loan grants with 51,888 loans. The private sector granted only 2,445 loans while the regional banks provided 1,009 loans to support the Stand-up India Scheme. Regional rural banks also authorized 180 loans to individuals of Scheduled Castes (SC) category. The banks have also received guidelines to follow on the SUPI from the government, the ministry of Finance said.
The guidelines include collateral free loans through credit guarantee scheme, merging with state and central government schemes whenever possible, simple application forms, online application from a specific portal, handholding support, designated nodal off...