More than 55,000 loans have been provided by the government under the Stand-Up India Scheme (SUPI), as said by the Ministry of Finance on Tuesday.
The number of loans given by public sector, private and regional banks under the Stand-Up India Scheme stand at 51,888, 2,445, and 1,009 respectively upto March 7, 2018.
Further, regional rural banks have sanctioned 180 loans to borrowers of Scheduled Castes (SC) category.
Guidelines on the SUPI have been issued by government to banks, finance ministry said.
These, inter alia, include collateral free loans through credit guarantee scheme, convergence with state and central government schemes wherever feasible, simplified application form, online application through the portal, handholding support, designated nodal officer for SUPI, among others.
The banks extends SUPI loan to commercially viable proposals as per bank’s board approved policy in this regard.