NEWS

Stand-up India scheme was launched by the Indian government completed six years recently

STAND UP INDIA

Launched on 5 April 2016

The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres

WHY –

• Promote entrepreneurship at the grass-root level of economic empowerment and job creation
• Seeks to leverage the institutional credit structure to reach out to the underserved sector of people such as SCs, STs and Women Entrepreneurs

OBJECTIVE – 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

WHO ARE ELIGIBLE

• 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