The Stand-Up India Scheme - New Delhi Times - India's Only International Newspaper

May 2, 2021
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In India, it is observed that challenges have often weighed down entrepreneurs, especially women or members from the Schedule Caste/Schedule Tribe communities who wanted to acquire a loan to start their own undertaking. Nevertheless, a noble initiative, “the Stand-Up India Scheme,” was launched by Prime Minister Narendra Modi in April 2016, which addresses these difficulties experienced by the SC/ST communities and women.
The Stand-Up India Scheme intends to encourage entrepreneurship among women and SC/ST members. The initiative is moored by the Department of Financial Services (DFS), Ministry of Finance, Government of India. The Scheme offers monetary help (funded/non-funded) for working capital and procurement of fixed resources in manufacturing, services, or retail sectors. It provides “bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower at least one women borrower for each bank branch for setting up a Greenfield enterprise. In the case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either an SC/ST or women entrepreneur.” It covers all the Schedule Commercial banks branches and will be accessible in three possible manners: Directly at the branch, or through Stand up India Portal (standupmitra.in), or through the Lead District Magistrate (LDM). SC/ST and or women entrepreneurs over 18 years old are eligible. Loans under the Scheme are accessible for only “greenfield projects.” Greenfield in this context means, “the first time venture of the beneficiary in the manufacturing or services or trading sector.” For instance, “non-individual enterprises 51% of the shareholding and controlling stake ought to be held either by SC/ST and/or Women Entrepreneur.” The borrower ought not to be in default to any bank/monetary organization.

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