Stand Up India: In case of non-individual enterprises, 51% stake and controlling stake should be held by SC / ST or women entrepreneurs. The loan recipient has not been convicted from any bank / financial institution.
Stand Up India Scheme
Stand up India: Employment has proved to be a major challenge before the people in Corona epidemic period. Corona cases are increasing once again in the country. Even today many people are struggling for employment. In such a situation, taking advantage of the schemes being provided by the government, starting self-employment is proving to be a better option. Thousands of people have taken up self-employment in the last one and a half years.
The biggest challenge in self-employment is that of capital. In such a situation, the schemes run by the government are very useful. One such scheme is Stand Up India Scheme. The scheme was launched on 5 April 2016 specifically for women, Scheduled Castes (SC) and Scheduled Tribes (ST) communities. In these 5 years, loans worth 25,586 crore have been distributed for more than 1,14,322 accounts.
Scheme expanded by 2025
The great thing is that the government has expanded the scheme till 2025. That is, people can take advantage of this scheme for the next 4 years. The objective of Stand-up India is to promote entrepreneurship among women, people belonging to Scheduled Caste (SC) and Scheduled Tribe (ST) communities.
Why stand-up India?
The stand-up India scheme is based on recognition of SC, ST and women entrepreneurs to set up enterprises, get loans and facilitate other support needed to succeed in business. Therefore, this scheme seeks to create an eco-system that provides a conducive environment for business.
Stand up India Scheme was launched on 5th April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. This scheme has been extended up to the year 2025. (1/6)#EmpoweringEnterprisingSCSTandWomen@nsitharamanoffc @Anurag_Office
— Ministry of Finance (@FinMinIndia) April 5, 2021
The scheme provides loan facility to the borrowers from bank branches to help them set up their enterprises. The benefit of this scheme covering all branches of scheduled commercial banks can be availed in three ways.
Where can I get a loan?
- Directly from the bank branch,
- From the stand-up India portal (www.standupmitra.in),
- Through Lead District Manager (LDM)
Who are eligible for loan?
- SC / ST and Women Entrepreneurs above the age of 18 years.
- Loans under the scheme are available only for green field projects (activities related to manufacturing, service or business sector and agriculture).
- In case of non-individual enterprises, 51% stake and controlling stake should be held by SC / ST or women entrepreneurs.
- The loan recipient has not been convicted from any bank / financial institution.
Main objectives of Stand-up India:
- To promote entrepreneurship among women, SC and ST community people.
- To provide loans to both willing and trainee borrowers to start greenfield ventures in the business, manufacturing and services sectors.
- To provide loans to both willing and trainee borrowers for setting up greenfield enterprises in manufacturing, service or business sector and agriculture related activities.
- Bank-loans ranging from Rs. 10 lakh to Rs. 1 crore by each bank branch of scheduled commercial banks to at least one woman and at least one borrower of SC / ST.
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