- Around 93, 094 loans worth ~INR 21,200.77 Crore have been sanctioned to women-led business enterprises under the scheme.
- INR ~3, 335.87 Crore have been sanctioned to over 16, 258 SC entrepreneurs & ~INR 1, 049.72 Crore has been approved for 4, 970 ST entrepreneurs.
- The main aim of the Stand-Up India scheme is to promote Entrepreneurship among Women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories.
Stand-Up India Scheme
- It was launched in 2016 by Prime Minister Narendra Modi. It is anchored by the Department of Financial Services (DFS), Ministry of Finance, Government of India
- The scheme facilitates bank loans between INR 10 Lakh and INR 1 Crore to at least one SC/ST borrower and at least one-woman borrower per bank branch of Scheduled Commercial Banks.
- Loans under the scheme are available for only greenfield projects (First Time Venture of Beneficiary) in manufacturing, services or trading sector & agricultural activities.
- Repayment Period – Maximum of 7 years (including moratorium period upto 18 months).
- In the case of non-individual enterprises at 51% of the shareholding and controlling stake should be held by an SC/ST or woman entrepreneur.
- The margin money is reduced from ‘up to 25 percent’ to ‘up to 15 percent’ of the project cost.
Eligibility
- Minimum Age – 18 years
- Zero default history of borrowers to any bank/financial institution.
Recent Related News:
i.On February 10, 2021, SIDBI and COWE launched the “SwavalambanSashakt- Mega campaign” to encourage and create awareness about the Stand Up India (SUI) scheme.
About Ministry of Finance:
Union Minister – Nirmala Sitharaman (Constituency – Karnataka).
Minister of State – Shri Anurag Singh Thakur (Constituency – Hamirpur, Himachal Pradesh).
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