Over 55,000 loans granted under Stand-up India

As many as 55,522 loans have been sanctioned by banks under the Stand-up India scheme until March 7, Parliament was told on Tuesday.

"The number of loans given by public sector, private and regional banks under the Stand-up India scheme are 51,888, 2,445, and 1,009 respectively upto March 7, 2018 since inception of the scheme," Minister of State for Finance Shiv Pratap Shukla told the Rajya Sabha in a written reply.

During the same period, Regional Rural Banks sanctioned 180 loans to borrowers of scheduled castes category, he added.

The scheme was launched on April 5, 2016 to facilitate bank loans between Rs 10 lakh and Rs 1 crore to potential women entrepreneurs and people belonging to scheduled caste and scheduled tribe communities.

The minister, however, did not divulge any details on the amount of loans granted under the scheme.

--IANS

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