Stand Up India


 
 
Concept Explanation
 

Stand Up India

STAND UP INDIA : Stand Up India was launched by Prime Minister Narendra Modi on 5 April 2016 to support entrepreneurship among women and SC & ST communities. It is similar to but distinct from Startup India. Both are enabler and beneficiary of other key Government of India Schemes, such as Make in India, Industrial corridor, Dedicated Freight Corridor, Sagarmala, Bharatmala, UDAN-RCS, Digital India, BharatNet and UMANG.The Stand Up India scheme is based on the recognition of the challenges faced by SC, ST and women entrepreneurs in setting up enterprises, obtaining loans and other support needed from time to time for succeeding in business. The scheme therefore endeavors an ecosystem, which facilitates and continues to provide a supportive environment for doing business.

Objective :The objective of the Stand Up scheme is to facilitate bank loans between Rs. 10 lakh and Rs. 1 crore to at least one scheduled caste or scheduled tribe, and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services, or the trading sector. 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.

Features:

  • Composite loan between Rs. 10 lakh and Rs. 100 lakh, inclusive of working capital component for setting up any new enterprise
  • Debit Card (RuPay) for withdrawal of working capital
  • Development of credit history of the borrower
  • Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs. 10,000 crore
  • Creation of a corpus of Rs. 5,000 crore for credit guarantee through NCGTC
  • Hand holding support for borrowers with comprehensive support for pre-loan training needs,facilitating loan, factoring, marketing etc.
  • Web portal for online registration and support services
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