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Standup India Empowering Entrepreneurship for All


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Stand-Up India Scheme: Catalyzing Entrepreneurship for Inclusive Growth

The Stand-Up India scheme is a government initiative aimed at promoting entrepreneurship among women, Scheduled Castes (SC), and Scheduled Tribes (ST) communities. Launched to support economic empowerment and inclusive growth, the scheme provides access to bank loans for setting up new enterprises across sectors. This article outlines the objectives, features, and impact of the Stand-Up India initiative.

Objectives of Stand-Up India
Stand-Up India seeks to:

Foster entrepreneurial spirit among women, SC, and ST communities.
Provide financial assistance through bank loans for starting new businesses.
Support businesses in sectors other than farming.
Encourage job creation and socio-economic development.
Key Features of the Scheme

Loan Facilities: Eligible entrepreneurs can access bank loans ranging from INR 10 lakh to INR 1 crore for setting up new businesses.

Repayment Tenure: The scheme offers a long repayment tenure of up to 7 years with a maximum moratorium period of 18 months.

Margin Money: The scheme proposes to bring in a margin money requirement of 25%, which can be provided in convergence with eligible central/state schemes.

Credit Guarantee: The scheme provides a credit guarantee through the National Credit Guarantee Trustee Company (NCGTC).

Interest Rate: The interest rate on loans under the scheme is the lowest applicable rate of the lending bank for that category (not exceeding (Base Rate – MCLR) + 3% + tenor premium).

Eligibility Criteria

The beneficiary should be at least 18 years old.
Loans under this scheme are provided for only greenfield projects, meaning first-time ventures in the manufacturing, services, or trading sector.
The borrower should not be in default to any bank or financial institution.
Application Process
Prospective applicants can apply for loans through the Stand-Up India portal or directly at bank branches. The portal also provides a handholding support, which includes assistance in loan application and training for managing a business.

Impact and Significance
Stand-Up India has had a significant impact on promoting entrepreneurship in traditionally underrepresented sectors. By enabling access to finance and guiding new entrepreneurs, the scheme has contributed to an environment that nurtures business ideas and innovation.

Stand-Up India stands as a testament to the government’s commitment to driving sustainable economic growth and building an inclusive society. By supporting entrepreneurs from marginalized sections of society, the scheme not only aims to democratize opportunities but also to contribute to the broader agenda of nation-building. The success stories emerging from the Stand-Up India initiative continue to inspire and empower a new generation of entrepreneurs.,

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