Present Status of “Stand Up India Scheme”

Present Status of “Stand Up India Scheme”

Ministry of Finance launched Stand Up India Scheme which have special provisions for empowerment of women. The government has informed the Lok Sabha about the implementation of the Stand Up India Scheme. More than 81% of the accounts under the Stand Up India Scheme belong to women entrepreneurs.

Aim of the Stand Up India Scheme

The Stand Up India scheme aims at promoting entrepreneurship among women and scheduled castes and tribes. The scheme is anchored by Department of Financial Services (DFS), Ministry of Finance, Government of India.

Significance of the Stand Up India Scheme

This scheme seeks to leverage the institutional credit structure to reach out to the underserved sector of people such as Scheduled Caste, Scheduled Tribe and Women Entrepreneurs so as to enable them to participate in the economic growth of nation.

The objective of this scheme is to facilitate 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 of SCBs for setting up a Greenfield enterprise.

Eligibility of the Stand Up India Scheme

• 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.