Stand Up India Scheme marks sixth anniversary

Context

On 5 April 2022, the Stand Up India scheme completed six years since its launch on 5th April 2016 by the Prime Minister Narendra Modi.

About the Stand Up India Scheme

• Stand Up India Scheme was launched on 5 April 2016 to promote entrepreneurship at the grass-root level of economic empowerment and job creation.
• This scheme seeks to leverage the institutional credit structure to reach out to the underserved sector of people such as SCs, STs and Women Entrepreneurs.
• The objective of this scheme is to 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.
• The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres (SUCC).

Eligibility Criteria

• SC/ST and/or women entrepreneurs; above 18 years of age.
• Loans under the scheme are available for only Greenfield projects.
• The project must be the very first one being undertaken under the manufacturing or service sector. 
• 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.
• The company must be a private limited/LLP or a partnership firm.
• The turnover of the firm must not be more than 25 crores.
• The entrepreneur should either be a woman for a person belonging to scheduled caste or scheduled tribe category.
• The company should be dealing with any commercial or innovative consumer goods.An approval of DIPP is also required for the same.

Achievements of this Scheme so far

• Rs. 30160 crore has been sanctioned under Stand Up India Scheme to 133,995 accounts upto march 2022 since inception of the Scheme. 
• Total number of SC/ST and Woman borrowers benefited under Stand Up India scheme, as on 21.03.2022 are as below-

 (Amt. in Rs. Crore)