Stand Up India: 40,700 crore loan disbursed in 7 years, know what is the scheme and how to get benefit

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New Delhi : To promote entrepreneurship at the grassroots level along with economic empowerment and employment generation, Stand-up India was organized by the Central Government about 7 years ago on April 5, 2023. Now the duration of this scheme has been extended till the year 2025. Recognizing the fact of the various challenges faced by the energetic, enthusiastic and ambitious SC/ST category and women entrepreneurs in realizing their dreams, Stand-Up India was launched with the objective of empowering women and SC/ST entrepreneurs. ) to promote entrepreneurship among the people belonging to the class and help them start a greenfield enterprise related to manufacturing, service or business sector and activities related to agriculture.

Loan above 1.8 Lakh

Union Finance and Corporate Affairs Minister Nirmala Sitharaman said that it is a matter of great pride and satisfaction for me that loans worth over Rs 40,600 crore have been disbursed to more than 1.8 lakh women and Scheduled Caste (SC) and Scheduled Tribe (ST) entrepreneurs. has been approved. On the occasion of the 7th anniversary of the Stand Up India scheme, Sitharaman said that the scheme has created an ecosystem that has facilitated the creation of a supportive environment for setting up greenfield enterprises through loans from branches of all Scheduled Commercial Banks And it has continued. Stand-up India scheme has proved to be a significant achievement in promoting entrepreneurship among SC, ST and women.

Objective of Stand-up India

• To promote the spirit of entrepreneurship among women, Scheduled Castes and Scheduled Tribes.

• To provide loans to greenfield enterprises engaged in manufacturing, service or trading sector and allied activities in agriculture.

• To facilitate bank loans ranging from Rs.10 lakh to Rs.1 crore to at least one Scheduled Caste and Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.

Why Stand-up India is needed

Stand-up India scheme has been designed to address the challenges faced by Scheduled Caste, Scheduled Tribe and women entrepreneurs in getting loans and other necessary assistance from time to time to set up enterprises and make them successful in business. With this in view, the scheme seeks to create an ecosystem that facilitates a conducive and supportive environment for the targeted sectors to do business and continue doing that business. The objective of the scheme is to encourage all bank branches to provide loans to SC and ST borrowers and women borrowers for setting up their own greenfield enterprises.

how to apply

• Can apply directly to the bank branch under the Stand-up India scheme.

• Loan can also be applied through Stand-up India Portal (www.standupmitra.in).

• Applications can be submitted through Lead District Manager (LDM).

Who will get the benefit of the scheme

• Scheduled Castes, Scheduled Tribes and women entrepreneurs who are above 18 years of age will get the benefit of this scheme.

• Loans under this scheme are available only for green field projects. Green field in this context means an enterprise set up by the beneficiary for the first time in the manufacturing, service or business sector and activities related to agriculture.

• In case of non-individual enterprises, 51 per cent shareholding and controlling stake should be held either by SC, ST entrepreneurs and women entrepreneurs.

• The borrower should not be a defaulter with any bank and financial institution.

• Margin money up to 15% has been envisaged in this scheme, which can be provided in coordination with eligible central and state level schemes. In any case, the borrower will have to raise at least 10 per cent of the project cost as his own contribution.

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