STAND UP INDIA SCHEME

Subject : Government Schemes

Context : Stand Up India scheme: Rs 25,586 crore sanctioned to ST, SC, women entrepreneurs.

Concept :

Stand Up India Scheme was launched on 5 April 2016 to promote entrepreneurship at the grass-root level of economic empowerment and job creation.
This scheme seeks to leverage the institutional credit structure to reach out to the underserved sector of people such as SCs, STs and Women Entrepreneurs.
The objective of this scheme is to facilitate bank loans between Rs.10 lakh and Rs.1 crore to at least one SC or ST borrower and at least one woman borrower per bank branch for setting up a Greenfield enterprise.
The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres (SUCC)

Eligibility under Stand Up India Scheme

SC/ST and/or women entrepreneurs; above 18 years of age
Loans under the scheme are available for only Greenfield project
Borrower should not be in default to any bank or financial institution
In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.