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
- 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