Stand up India scheme

  • Stand up India Scheme recently completed 7 years.
  • It was launched by Ministry of Finance in 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation.
  • This scheme has been extended up to year 2025.
  • Objective
    • Promote entrepreneurship amongst women, SC & ST category.
    • Provide loans for only greenfield enterprises in manufacturing, services or trading sector and activities allied to agriculture.
    • Facilitate bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.
    • However, Government does not allocate funds for loans under Stand-Up India Scheme.
  • Success
    • More than 1.8 lakh women and SC/ST entrepreneurs have been sanctioned loans for more than Rs. 40,700 crores.
    • 8 percent rise in borrowers from SC/ST communities between 2021 and 2023.
  • Other initiatives regarding it
    • Submission of online applications by potential borrowers through standupmitra portal.
    • Intensive publicity campaigns, simplified loan application form, convergence with State and Central government Schemes, etc.
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