Stand-Up India Scheme
(Ministry of Finance)
Key features of the Campaign
Key Points of the Scheme
- Stand-Up India Scheme was launched in 2016 by the Ministry of Finance.
- This Scheme is for financing SC/ST and /or Women Entrepreneurs.
- In the case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either an SC/ST and Woman Entrepreneur.
- to promote entrepreneurship among Scheduled Caste/Schedule Tribe and Women.
- to promote entrepreneurship at the grass root level for economic empowerment and job creation.
- To set up of new enterprise in manufacturing, trading or services sector.
Provided loan amount
- The scheme provides for composite loans by banks between Rs. 10 lakh and up to Rs. 100 lakh for setting up a new enterprise in the non-farm sector.
- These loans would be eligible for refinance and credit guarantee cover.
Rate of Interest
The rate of interest would be the lowest applicable rate of the bank for that category (rating category) not to exceed (base rate(MCLR) + 3% + tenor premium).
Tenure to repay the loan
The loan is repayable in 7 years with a maximum moratorium period of 18 months.