Stand Up India Scheme
The 'Stand Up India Scheme' was launched by Prime Minister Narendra Modi on 5th April, 2016. this centeral Government scheme under which loans in the range of Rs 10 lakh to Rs 100 lakh Promotion of entrepreneurship among Schedule Caste Schedule Tribe and women for Will be given. Such entrepreneurs are likely to get a large number of benefits from this scheme.
Features of the Scheme
1. Combined loans ranging between Rs.10 lakh to Rs.100 lakh as a whole of working capital component for setting up new ventures
2. Debit Card (RuPay) for Withdrawal of Working Capital.
3. The credit history of the borrower will be prepared.
4. Refinance facility through Small Industries Development Bank of India (SIDBI)with an initial amount of Rs 10 thousand crores
5. Creation of Rs 3000 crore corpus for credit guarantee through NCGTC
6. Comprehensive support to the borrower with assistance for pre-loan training requirements, credit facilitation, factoring and marketing etc.
7. Web portal for on-line registration and support servicesThe overall objective of the proposal is to leverage the institutional creditstructure to reach out to the underserved segments of the population by facilitating bank loansfor setting up enterprises in the non-agricultural sector by SC/ST and women borrowers. Thisinitiative will also have the benefit of collaborating with the on going schemes in other departments.
8. This process will be led by SIDBI in collaboration with Dalit Indian Chamber of Commerce and Industry in various sectors of specialized institutions across the country. The offices of SIDBI and National Banks for Agriculture and Rural Development will be designated as stand-up contact centres.
