The Stand-Up India Scheme was launched by the Prime Minister Shri Narendra Modi on 5th April, 2016.
The scheme envisages extending bank loans between Rs. 10 lakh to Rs. 1 crore for Greenfield Enterprises set-up by SC, ST and Women entrepreneurs and extending effective handholding support to them.
Each bank branch is to extend loans to at least one SC/ST and one woman entrepreneur. Enterprises covered under the scheme may be in manufacturing, services or the trading sector.
The Scheme shall be implemented through 1.25 lakh bank branches of all Scheduled Commercial Banks.
The loan shall be a composite loan to meet the requirement of fixed assets and working capital with rate of interest being the lowest applicable rate of the bank for that category as per rating.
Provision of convergence with State/ Central Government Schemes has been identified in the Scheme.
Credit Guarantee Fund Scheme for Stand-Up India (CGFSI) is operational with a corpus fund of Rs.5,000 crore. A dedicated portal (www.standupmitra.in) for the Stand-Up India Scheme is active.
The portal as a virtual market place endeavors to provide ‘End to End’ solutions not only for credit delivery but also for a host of handholding services.
