Country India | Prime Minister Narendra Modi | |
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Launched 5 April 2016; 11 months ago (2016-04-05) | ||
Standup India was launched by Prime Minister Narendra Modi on 5 April 2016 to support entrepreneurship among women and SC & ST communities
Launch
Prime Minister Narendra Modi launched the ‘Stand up India’ scheme on 5 April 2016 as part of the government's efforts to support entrepreneurship among women and SC & ST communities.
The scheme offers bank loans of between ₹10 lakh (US$15,000) and ₹1 crore (US$150,000) for scheduled castes and scheduled tribes and women setting up new enterprises outside of the farm sector.
Eligibility
1.SC/ST and/or Women entrepreneurs, above 18 years of age.
2.Loans under the scheme is available for only green field project. Green field signifies , in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.
3. In-case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
4. Borrower should not be in default to any bank/financial institution.