Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Industry News

| More

SIDBI's Standup Mitra Portal set up under GOI's Stand-Up India scheme reaches over 96,000 loan sanctions

Posted On: 2020-10-27 06:19:21 (Time Zone: Arizona, USA)

The Standup Mitra Portal, which was set up by Small Industries Development Bank of India (SIDBI) under guidance of Department of Financial Services, Ministry of Finance, to pioneer national mission of Stand-Up India, has successfully recorded more than 96,000 loan sanctions worth more than Rs. 21,000 crore as on September 30, 2020. The portal was launched in April 2016 to extend online financial assistance to the unserved and underserved segment of the society without the need of visiting any bank branch and apply for loan online under the Stand-Up India Scheme. The Stand-Up India scheme targets at ensuring access to unserved/underserved segments of women and Scheduled Caste (SC)& Schedule Tribes(ST) pan India basis by providing them financial assistance starting from Rs.10 lakh to Rs.1 crore for setting up of greenfield (new) enterprises.

For easing various credit and handholding access aspects of aspirant helps entrepreneurs intending to apply for loan(1.25 lakh+ bank branches), seek handholding support (from 8,000+ active handholding agencies) and look for credible information, portal has been with them. The scheme has since been extended upto year 2025by Government of India (GoI).

Shri V. Satya Venkata Rao, Deputy Managing Director of SIDBI said, "One of the major functions of SIDBI has always been strengthening the Micro, Small & Medium Enterprises' (MSMEs) ecosystem through implementation of various GOI schemes with special thrust on digitizing access. We are happy that nearly a lakh of aspirants have opted to set up their new enterprises under Stand-Up India. In order to give further fillip to pockets/segments which are left out, we invite aspirants to look at this scheme for realizing their dreams. We are undertaking steps such as supporting Swavalamban Sankalp through Dalit Indian Chamber of Commerce and Industry (DICCI), which represents mainstreaming mission of SC/ST segments. Through the portal, we also look forward to deepen the mission of equitable outreach to all segments and regions in the country looking for making Swavalamban their preferred vocation."

To give fillip to Stand-Up India Scheme, SIDBI in collaboration with DICCI has launched Nationwide Mega Campaign viz. "Swavalamban Sankalp". Due to COVID-19 pandemic, a web-series of the programs is being scheduled pan India shortly. Shri Milind Kamble, Chairman, DICCI said,"Swavalamban Sankalp is the outreach campaign for Hon'ble Prime Minister's Flagship program to create 1.25 lakh SC/ST entrepreneurs through Stand-Up India scheme. It shall leverage the 'Atma Nirbhar Bharat Abhiyan'. SIDBI & DICCI shall reach out to aspirant SC/ST youth across India to handhold them in becoming entrepreneurs and shall complete the target of creating 1.25 lakh entrepreneurs in the stipulated time. DICCI is the pioneering industry chamber which is working towards development of SC/ST entrepreneurship in the country. With a vision to strengthen the Stand-Up India ecosystem, through Swavalamban Sankalp, the synergy of DICCI and SIDBI shall extensively expand the outreach to the aspirational needs of SC/ST youth and entrepreneurs."

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Fino Payments Bank is now a scheduled bank

UST Acquires ServiceNow Business from abhra, Inc.

First batch of Sputnik V vaccine delivered to Mexico

Fino Payments Bank to on board 10000 women from SHGs as banking agents in Uttar Pradesh

Liberty General Insurance Rolls Out AI-based Automated Car Inspections

Ageas Federal Life Insurance launches its Life Advantage Plus Plan

Star Health Insurance partners with PhonePe to offer Digital Health Insurance

Universal Sompo General Insurance Company Limited ties up with Saptagiri Grameena Bank

SIDBI partners with Confederation of Women Entrepreneurs to give fillip to Stand-Up India Scheme

Tata Housing launches 'The Grand Indian Home Festival'

LANXESS increases prices for engineering plastics

AMP Capital establishes energy transmission platform in India with Sterlite Power

First-of-its-kind cradle that enables babies to have uninterrupted sleep

NASSCOM and BIRAC launches 'JAN-Care', a Nationwide Challenge to Scale Healthtech Innovation

LANXESS increases prices for 1,6-hexanediol

Fincare Small Finance Bank partners with Go Digit Insurance

Fincare Small Finance Bank signs a MoU with National Housing Bank for PMAY

S. P. Retail Brands Ltd. acquires UK based Kidswear brand Angel & Rocket

ESAF Small Finance Bank net profit grows by 41.09%

Shriram General Insurance to strengthen business using Digital channels

Bharti AXA Life Insurance launches Bharti AXA Life Wealth Pro

SIDBI and CRIF India collaborate to introduce sector-based insight reports 'Industry Spotlight'

SIDBI joins hands with Government of Gujarat for the Development of MSME ecosystem in the State

FAITH asks Anti-competitive travel tax TCS to be withdrawn

ESAF Small Finance Bank Announces Fintech Conclave 2020

Micro ATM is a game changer in India - Says RapiPay

ClearTax amongst 20 Indian startups in CB Insights' World's Most Promising Fintech list

Liberty General Insurance Receives INR 100 Crore Capital Infusion from Promoter Group

SIDBI and TransUnion CIBIL launch MSMESaksham

Tata AIA appoints Naveen Tahilyani as Chief Executive officer and MD

Sharekhan just went Bollywood ! Launches MoneyFLIX, World's First Financial Movies Platform

Angel Broking becomes 4th largest brokerage house in the country based on active clients at the NSE

IL&FS board upgrades estimates of debt addressed to over Rs. 57,000 crore

Upstox Registers 1 Million Customers; Aims to Double by December 2020

Reliance Securities launches new referral programme to provide enhanced digital experience to customers

RankMF Launches India's First Mutual fund Portfolio Sanitization Tool: SmartSwitch

Blue Ashva Capital announces initial close of SME focused India Fund

Convergent Finance LLP announces USD14.1 mn investment in Jyoti International Foods

Angel Broking records highest monthly client addition of 1Lakh +

Universal Sompo General Insurance Company Limited has announced the appointment of Sharad Mathur as its Managing Director & CEO

Sonalika Tractors Records 18.6% Overall Sales Growth in May'20

Upstox revamps its trading platform; introduces Pro Web 3.0

SATYA MicroCapital Ltd. gets MFI Grading uplift from ICRA

Indian Space Technology Startup VestaSpace Technology Receives USD 10 million Funding from US-based Next Capital LLC

ICAI Stands with Government to fight against COVID 19

Honda 2Wheelers India pledges support to its dealer family to maintain business continuity

Moneycontrol Pro reaches a new milestone - 1.5 lakh paying subscribers

Former Executive Director, RBI - Mrs. Surekha Marandi joins SATYA MicroCapital Limited as Independent Director

Arcil commits Rs. 1.5 Crore towards India's fight against COVID-19

Cognizant to acquire Lev to expand Digital Marketing expertise

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020