Stand Up India Scheme extended till 2025
- The Scheme was launched by the Prime Minister on 05th April, 2016.
- It facilitates loans to Scheduled Caste, Scheduled Tribe and women borrowers.
- The scheme is anchored by Department of Financial Services (DFS) under Ministry of Finance.
- As on 28.06.2021, a total of 1,16,266 loans amounting to Rs. 26204.49 crore have been extended since inception of scheme.
Stand Up India Scheme
- The Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise.
- Enterprise may be in manufacturing, services or the trading sector.
- Government does not allocate funds for loans under the Stand Up India Scheme.
- Loans under the Scheme are extended by SCBs as per commercial parameters, Board approved policies of respective banks and extant RBI guidelines.
Eligibility for Scheme
- SC/ST and/or woman entrepreneurs, above 18 years of age.
- Loans under the scheme is available for only green field project (first time venture of the beneficiary in the manufacturing or services or trading sector).
- In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
- Borrower should not be in default to any bank/financial institution.
Steps taken by Government for effective implementation of the Scheme
- Provision for submission for online applications by potential borrowers through www.standupmitra.in portal
- Hand-holding support
- Intensive publicity campaign
- Simplified loan application form
- Credit Guarantee Scheme
- Convergence with State and Central government Schemes wherever feasible
- Reduction in margin money and
- Inclusion of activities allied to agriculture etc.