Nearly ₹29K cr sanctioned to SC/ST, women entrepreneurs since April 2022
The finance minister, in reply to a Rajya Sabha question, said the objective of the Stand-Up India Scheme was to provide loans from scheduled commercial banks (SCBs) of value between ₹ 10 lakh and ₹ 1 crore to at least one scheduled caste (SC) or scheduled tribe (ST) borrower and one woman borrower per Bank branch for setting up a greenfield enterprise in the manufacturing, services, or trading sector and also for activities allied to agriculture.
Apart from linking prospective borrowers with banks for loans, the online portal (www.standupmitra.in) under the scheme provided guidance to prospective SC, ST, and Women entrepreneurs in their endeavour to set up business enterprises, starting from training to filling up of loan applications as per bank requirements, Sitharaman said.
She added that the portal also facilitated step-by-step guidance for connecting prospective borrowers to various agencies with specific expertise, viz., skilling centres, mentoring support, entrepreneurship development programme centres, and district industries centres, together with addresses and contact numbers.
The Stand-Up India Scheme was launched on 5 April 2016.
According to the information shared by the finance minister in the upper house, 30,145 loan accounts with SCs were sanctioned for a total amount of ₹ ₹ 6,437.59 crore between April 2022 and March 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
SAP Labs India opens second campus in Bengaluru
Bengaluru: The world's biggest business software company, SAP, on Tuesday launched a second R&D campus in Bengaluru at an investment of Rs 1,800 crore. When fully constructed, the campus will give SAP the capacity to nearly double its workforce in the country to 30,000. The campus, near the international airport in Devanahalli, was inaugurated by chief minister Siddaramaiah. Others present on the occasion were state IT minister Priyank Kharge, German ambassador to India Philipp Ackermann, and a host of SAP's global leaders, including executive board member Thomas Saueressig, supervisory board member Gerhard Oswald, CTO Philipp Herzig, and India MD Sindhu Gangadharan. Union electronics & IT minister Ashwini Vaishnaw delivered a video message. SAP Labs, as the R&D division is called, has over 17,000 employees in India, of which over 11,000 are in Bengaluru. The new 41-acre campus is an addition to the 22-acre Whitefield campus in the city. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Gangadharan said 3,200 employees have moved into the new campus, and another about 1,300 would move in another two months. The SAP management has approved a second phase of construction in the new campus, and Gangadharan said that is expected to finish by the third quarter of 2028. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You will never turn off your computer again. Undo Asked about future hiring, she said SAP Labs India has been hiring 1,500 to 2,000 people every year, and indicated that was likely to continue. "We have some of the best talent in the world here," she said. Saueressig described the campus as "not just a physical space….(but) a new chapter of innovation, innovation out of India for the world that will power all the large enterprises around the globe." He noted that more than 87% of the world's commerce goes through SAP systems, and said "here in Bengaluru, we have the opportunity to redefine what enterprise software will look like in the future, especially considering we are entering the age of AI. " The company has software for almost all of the core processes in an enterprise – lead-to-cash (end-to-end life cycle of selling to and servicing customers), total workforce management, design-to-operate (connecting all stages of a product's lifecycle, from design & development through to production, logistics, and operation), strategic sourcing and procurement. Teams in India are integral parts of every one of the solutions, and Saueressig said AI is now being infused into all of those solutions. Gangadharan said there's no separate AI team in the company, instead "every SAP employee will be an AI developer."
Time of India
4 hours ago
- Time of India
'One of the worst orders': In a 1st, SC bars HC judge from hearing criminal cases
NEW DELHI: Enraged by what it termed "one of the worst and most erroneous orders we have come across", Supreme Court has pulled up Allahabad HC's Justice Prashant Kumar for allowing criminal proceedings in a civil dispute case. Questioning Kumar's competence in deciding criminal cases, SC, in an unprecedented order, directed he shouldn't be given any criminal case for adjudication till he retires, and must be made to sit with a seasoned judge of the HC in a division bench. "The judge has not only cut a sorry figure for himself but has made a mockery of justice. We are at our wits' end to understand what's wrong with judiciary at the level of HC," Justices J B Pardiwala and R Mahadevan said. SC: Passing of such absurd & erroneous orders unpardonable SC said at times "we are left wondering whether such orders are passed on some extraneous considerations or it is sheer ignorance of law. Whatever it be, passing of such absurd and erroneous orders is unpardonable". It said the erroneous order was not an exception as Justice Kumar had passed similarly unpardonable ones over a period of time, which left them with no option but to take the extreme step. The case pertains to sale of goods and payment between two businessmen. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo The seller had delivered goods worth Rs 52.34 lakh out of which he was paid Rs 47.75 lakh. As the balance amount was not paid, he lodged a criminal case, leading to the other businessman to move HC for quashing the case. While allowing criminal proceedings in the case, a single bench of Justice Kumar justified his decision, saying that the complainant would not be in a position to pursue the civil litigation as it will take years and he will have to put more money to pursue the litigation. "To be more precise, it would seem like good money chasing bad money. If this court allows the matter to be referred to civil court on account of civil dispute between the parties, it would amount to travesty of justice and O.P. no.2 (complainant) would suffer irreparable loss and he might even not be in a position to emerge from the financial constraints to pursue the matter," he had said. Expressing shock over the stand taken by the judge the SC bench said, "Is it the understanding of the high court that ultimately if the accused is convicted, the trial court would award him the balance amount? The observations recorded... are shocking. It is an extremely sad day for one and all to read the observations... It was expected of the high court to know the well-settled position of law that in cases of civil dispute a complainant cannot be permitted to resort to criminal proceedings as the same would amount to abuse of process of law. "It was expected of the HC to understand the nature of the allegations levelled in the complaint. In substance the HC has said in so many words that the criminal proceedings instituted by the complainant in a case of pure civil dispute is justified because it may take considerable time for the complainant to recover the balance amount by preferring a civil suit," it said. The bench quashed the order and directed that the case be reconsidered by the HC but by another judge. "The chief justice of the high court shall immediately withdraw the present criminal determination from the judge concerned. The chief justice shall make the judge concerned sit in a division bench with a seasoned senior judge of the HC. We further direct that the judge concerned shall not be assigned any criminal determination, till he demits office. If at all he is to be made to sit as a single judge, he shall not be assigned any criminal determination," the apex court said.
Time of India
6 hours ago
- Time of India
Exporters & farmers seek incentives from Centre to boost onion export
Nashik: A delegation of onion exporters and farmers met with Union consumer minister Pralhad Joshi on Monday in Delhi, seeking incentives on onion exports to boost demand for the produce. Farmers also demanded a grant of Rs 500 per quintal for those who sold their produce at lower rates. Their demands come given the drop in average wholesale onion prices, which have declined to Rs 1,275 per quintal. The delegation included Vikas Singh, the vice-president of the Horticulture Produce Exporters Association (HPEA), and Deepak Pagar of the farmers' association. "We have urged Union consumer minister Pralhad Joshi to increase the rate of remission of duties and taxes on exported products (RoDTEP) up to 5%, and also give a transport subsidy of 7% on cost of freight for onion export to boost export of the produce and stabilise the wholesale onion prices in mandis in the interest of farmers," said Vikas Singh. Deepak Pagar, a leader of the farmers' association, said the cost of onion production is Rs 1,800 per quintal, and farmers incur heavy financial losses if they get a price below that. At present, average wholesale onion prices have dropped to Rs 1,200 per quintal, and farmers are incurring heavy losses. Pagar urged the minister to provide a grant of Rs 500 per quintal to those onion farmers who have sold their produce at the lower rate during the last six months. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo Pagar also urged the minister not to sell the buffer stock onions before Sept, as the wholesale onion prices will drop further, and that will lead farmers to incur heavy financial losses. The minister assured the delegation to look into their issues positively and also that the buffer stock of the onions would be sold after Sept this year.
