Context:
Government launched stand up India Scheme to promote entrepreneurship among women, Scheduled Castes (SC) & Scheduled Tribes (ST)
About the Scheme :
- The scheme is a project of the Department of Financial Services (DFS), Ministry of Finance.
- It aids bank loans between Rs 10 lakh and Rs 1 Crore to a minimum of one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and a minimum of one woman borrower per bank branch for setting up a greenfield enterprise.
- This enterprise could also be in manufacturing, services or the trading sector.
- 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 a woman entrepreneur.
- Loans under the scheme are available for less than Greenfield projects.
