Cabinet Extends Credit Guarantee Fund for Micro Units for 5 Years
The government allocated a Rs 4,111 crore guarantee corpus to support greenfield ventures for women, Scheduled Castes, and Scheduled Tribes under the extended initiative, officials said.
- On Wednesday, the Union Cabinet approved the extension of the Credit Guarantee Fund for Micro Units for five years to March 2031, Broadcasting Minister Ashwini Vaishnaw announced.
- Launched in January 2016, the CGFMU has acted as a major catalyst for Pradhan Mantri Mudra Yojana loans, which have reached Rs 12.6 lakh crore in sanctioned value.
- Additionally, the Cabinet extended the Stand-Up India Scheme until March 31, 2031, with a Rs 4,111 crore corpus aimed at promoting entrepreneurship among women, SCs, and STs.
- By ensuring credit access, the Stand-Up India Scheme has facilitated loans to more than 2.75 lakh entrepreneurs since its launch in April 2016, strengthening underserved communities.
- Eligible sectors for these loans include manufacturing and services, with funding ranging from Rs 10 lakh to Rs 1 crore and credit guarantees covering 85 per cent of loan amounts.
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The Union Cabinet has extended the Stand Up India Scheme till March 31, 2031, with a ₹4,111 crore credit guarantee corpus aimed at helping 2.5 lakh more SC, ST, and women entrepreneurs set up new businesses.
Union cabinet extends Stand-Up India Scheme till March 31, 2031
New Delhi, Nov 11: The government on Wednesday approved the continuation of Stand-Up India Scheme for next 5 years to promote entrepreneurship among Women, Scheduled Castes (SCs) and Scheduled Tribes (STs). The Union Cabinet, headed by Prime Minister Narendra Modi, has approved the extension of Stand-Up India Scheme up to March 31, 2031. The scheme aims to promote entrepreneurship among Women, Scheduled Castes and Scheduled Tribes and provide fi…
Cabinet decisions today 11 Nov full list: ₹12.6 lakh crore Mudra loans, ₹62,370 crore subsidy, metro boost and more
The Union Cabinet approved measures supporting small businesses, farmers, urban transport and cultural infrastructure. It extended Stand-Up India and micro-unit credit guarantee schemes through March 2031, set fertiliser subsidies for Rabi 2026-27, cleared an 8.449-km Noida Metro extension and more.
Cabinet extends Mudra credit guarantee and Stand-Up India schemes till March 2031
The Centre expects a Rs 5,000 crore guarantee corpus to support Rs 12.6 lakh crore in Mudra loans over five years. Stand-Up India will get a Rs 4,111 crore guarantee corpus and aims to reach at least 2.5 lakh more entrepreneurs.
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