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Description

Stand Up India Scheme

Stand up India Scheme was launched to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. The scheme has been extended till 2025.

The Stand Up India scheme envisages to facilitate the dreams of aspiring SC, ST and women entrepreneurs into reality by supporting their energy and enthusiasm and removing hurdles from their path.

Objectives

• Promote entrepreneurship amongst women, SC & ST category

• Provide loans for greenfield enterprises in manufacturing, services or the trading sector and activities allied to agriculture

• Facilitate bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.

Need for the scheme:

The Stand-Up India scheme is based on recognition of the challenges faced by SC, ST and women entrepreneurs in setting up enterprises, obtaining loans and other support needed from time to time for succeeding in business. The scheme therefore endeavours to create an ecosystem which facilitates and continues to provide a supportive environment for doing business. The scheme seeks to give access to loans from bank branches to borrowers to help them set up their own enterprise.

Eligibility

• SC/ST and/or woman entrepreneurs, above 18 years of age.
• Loans under the scheme is available for only green field project. Green field signifies, in this context, the 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.

Achievements (as on March 21, 2023)

• Rs. 40,710 crore has been sanctioned under Stand Up India Scheme to 180,636 accounts.

• Over 1.44 lakh loans worth Rs. 33,152 crore has been sanctioned to women under Stand Up India Scheme

• 26,889 loans worth Rs. 5,625 crore has been sanctioned to Scheduled Castes (SCs) under Stand Up India Scheme

• 8,960 loans worth Rs. 1,932 crore has been sanctioned to Scheduled Tribes (STs) under Stand Up India Scheme