Standup India Scheme
Reference Pib
Objective:
The Prime Objective of the Standup India Scheme is to Promote women, Scheduled Caste (SC) and Scheduled Tribe(ST) as Entrepreneurs. to help them in starting in Manufacturing, Services or Trading and activities allied to Agriculture
Standup India Scheme was launched on 5th April 2016 to promote grassroots level entrepreneurship and create jobs
Purpose of Standup India Scheme
- Promote entrepreneurship among women, SCs and STs
- Provide loans for greenfield enterprises in the manufacturing sector, trading or activities related to the agriculture
- Facilitate Bank loans between 10lakhs to 1 Crore
Who is Eligible for this Loan
- SC/ST and/or Women entrepreneurs, above 18 years of age
- In the case of Non-Individual Enterprises, 51% share has to be behold by SC/ST or Women Entrepreneurs
- Borrowers should not be defaulters to any Bank
- Borrower has to bring 10% of the total project cost as their own Contribution
Changes to Standup India Scheme
- The extent of Margin Money has been brought back from upto25% to upto15% of the Project Cost. However, 10% of the Borrower Own Contribution has not changed
- Loans for Enterprises in " Activities in Agriculture" like Pisciculture, poultry, rearing, Livestock etc
