FM Nirmala Sitharaman to review Stand-Up India, Mudra, CGTMSE, other schemes for SCs tomorrow | The Financial Express

FM Nirmala Sitharaman to review Stand-Up India, Mudra, CGTMSE, other schemes for SCs tomorrow

Credit and finance for MSMEs: According to the ministry, Stand-Up India, Pradhan Mantri Mudra Yojana, National Rural Livelihood Mission (NRLM), National Urban Livelihoods Mission (NULM), CGTMSE, Education Loan, Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC), Venture Capital Fund for SCs etc., will be reviewed in the meeting.

FM Nirmala Sitharaman to review Stand-Up India, Mudra, CGTMSE, other schemes for SCs tomorrow
Finance minister Nirmala Sitharaman would also review the steps taken for the welfare of SCs by the banks.

Credit and finance for MSMEs: Finance Minister Nirmala Sitharaman Tuesday, September 27 will review the performance of credit and other schemes for scheduled castes (SCs) by public sector banks. A statement by the finance ministry on Monday said the meeting would be attended by the Chairman of the National Commission for Scheduled Castes, heads of public banks and financial institutions such as SIDBI and NABARD. The meeting will also see the union ministers of state (MoS) for finance Pankaj Chaudhary and Bhagwat Kisanrao Karad and the secretary at the Department of Financial Services (DFS). 

“The government has launched various schemes specifically for SC that includes the Stand-Up India Scheme, Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC) and the Venture Capital Fund for Scheduled Castes. Besides these schemes, the government has emphasised on inclusive growth for all segments of society,” the statement noted. 

According to the ministry, Stand-Up India, Pradhan Mantri Mudra Yojana, National Rural Livelihood Mission (NRLM), National Urban Livelihoods Mission (NULM), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Education Loan, Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC), Venture Capital Fund for SCs etc., will be reviewed in the meeting. 

Moreover, the finance minister would also review the steps taken for the welfare of SCs by the banks. “The review will focus on the reservation, backlog vacancies and action taken to fill up the same and the functioning of welfare and grievances redressal mechanism including meetings with Welfare Associations, appointment of Chief Liaison Officers (CLOs), constitution of Grievance Redressal Cell etc.,” the ministry added. 

The National SC-ST Hub, which aims to promote entrepreneurship among SC/ST community in the country, benefitted 9,041 micro and small enterprises (MSEs) owned by SC/ST entrepreneurs in FY22 through procurement worth Rs 1,070 crore, the highest since its launch in 2016. In the current financial year so far, 846 SC/ST MSEs have benefitted with procurement amounting to Rs 227 crore, as per data from the MSME ministry’s Dashboard. 

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