Quick Summary
The objective of the Stand Up India Scheme is to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services or trading sector. Thiswas stated by Shri Anurag Singh Thakur, Union Minister of State for Finance Corporate Affairs, in a written reply to a question in Rajya Sabha today.
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FAQ :
The Stand Up India Scheme facilitates loans between Rs. 10 lakh and Rs. 1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services, or trading.
As of 02.03.2021, a total of 1,11,619 loans have been extended under the scheme.
The total value of loans disbursed under the Stand Up India Scheme amounts to Rs. 24,985.27 crore.
Yes, the margin money requirement has been reduced from up to 25% to up to 15%, and activities allied to agriculture have been included in the scheme.
Support includes an online application portal (www.standupmitra.in), handholding assistance, publicity campaigns, simplified loan forms, a Credit Guarantee Scheme, and dedicated weekly programmes for the target group.
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