Finance Minister Sitharaman To Meet CEOs Of PSBs To Assessment Progress Of Schemes For SCs: Report

New Delhi: Finance Minister Nirmala Sitharaman is scheduled to satisfy heads of public sector banks and monetary establishments later this month to overview progress of assorted authorities schemes aimed toward welfare and upliftment of scheduled castes.

Schemes like Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and Credit score Enhancement Assure Scheme for Scheduled Castes (SCs) and their progress could be mentioned throughout the assembly, sources stated.

The assembly would overview the efficiency of public sector banks (PSBs) and monetary establishments to offer credit score to folks belonging to the SC group and different welfare measures beneath implementation, they stated.

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The assembly, to be chaired by the Finance Minister, would see participation from chairman of Nationwide Fee for Scheduled Castes (NCSC), monetary companies secretary and different senior officers.

The Stand-Up India scheme was launched in 2016 to advertise entrepreneurship among the many scheduled caste/ scheduled tribe and ladies by facilitating financial institution loans of Rs 10 lakh to Rs 1 crore to a minimum of one SC/ST borrower and one girl borrower per financial institution department for organising new enterprises in buying and selling, manufacturing and companies sector.

In 2019-20, Stand-Up India was prolonged for your entire interval coinciding with the fifteenth Finance Fee interval of 2020-25.

The scheme, being applied by way of all scheduled business banks, is predicted to profit a minimum of 2.5 lakh debtors. Complete 1,44,223 loans have been sanctioned to girls and SC/ST entrepreneurs throughout the nation as on July 22, 2022 beneath the scheme, as per the most recent authorities knowledge.

Below PMMY, collateral-free institutional credit score of as much as Rs 10 lakh is offered by Member Lending Establishments (MLIs) to micro/small enterprise items, for earnings producing actions in sectors equivalent to manufacturing, buying and selling, companies, and in addition for actions allied to agriculture.

Since inception of PMMY, greater than 35.88 crore loans amounting to Rs 19.61 lakh crore have been prolonged as on July 1, 2022. PTI DP ANZ ANU ANU


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