On February 10, 2021, the Small Industries Development Bank of India (SIDBI) and Confederation of Women Entrepreneurs of India (COWE) have launched “Swavalamban Sashakt- Mega campaign” to encourage and to create awareness about the Stand Up India (SUI) scheme of Central Government.
- The Swavalamban Sashakt is a 20 webinar series to give a fillip to ‘Stand Up India’ scheme.
- The webinar series will be held every Wednesday at 3 pm on different franchise models. All stakeholders can interact in it.
About Stand-Up India (SUI) scheme:
Launched in 2016, The scheme is a flagship programme launched by Prime Minister Narendra Modi to facilitate bank loans between Rs 10 lakh and Rs 100 Lakh (1 crore) to at least one scheduled caste (SC) or scheduled tribe (ST) borrower and at least one woman borrower per bank branch. The loan will be provided for setting up greenfield enterprise in manufacturing, services or the trading sector. The scheme has been extended up to FY2025.
- In case of non-individual entities at least 51% of the shareholding should be held by either SC/ST or woman entrepreneurs.
- Minimum Age– 18 years
- Repayment Period : Maximum of 7 years (including moratorium period upto 18 months)
- Zero default history of borrowers to any bank/financial institution.
For Drawal of Working Capital upto 10 Lakh, will be sanctioned by Way of Overdraft.Similarly, the Working Capital above 10 Lakh will be sanctioned by Way of Cash Credit Limit.
Recent Related News:
i.On January 5, 2021, Tata Power partnered with Small Industrial Development Bank of India (SIDBI) to provide a finance scheme to Micro, Small & Medium Enterprises (MSMEs) engaged in rooftop solar segment.
ii.On January 6, 2021, Bank of Baroda (BoB) has signed a memorandum of understanding (MOU) with the SIDBI to enable micro, small and medium enterprises (MSMEs) customers of the former to apply online for one-time restructuring (OTR).
About Small Industries Development Bank of India (SIDBI)
Establishment – 1990
Deputy Managing Director– V Satya Venkata Rao
Headquarter– Lucknow, Uttar Pradesh (UP)
About Confederation of Women Entrepreneurs of India (COWE):
It is a Not for Profit Business Organization under Section 25 of Company Law initiated in 2004
Headquarter– Hyderabad, Telangana