Stand Up India Scheme:

GS Paper 2:

Topics Covered: Schemes for the welfare of vulnerable sections.

Context:

On 5th April 2016, The Stand-up India scheme was launched by the Indian government. On 5th April 2022, it completed six years.

Accomplishments of this scheme:

1. Under this scheme over 1.33 lakh new job-creators and entrepreneurs have been facilitated.
2. Over 1 lakh women entrepreneurs have benefited under this scheme in the last six years.
3. Under this scheme, Rs. 30,160 crores have been sanctioned by the government to a total of 1,33,995 accounts up to 21st March 2022.
4. Out of the total sanctioned accounts, 6,435 accounts belonged to ST borrowers with Rs 1373.71 crore sanctioned and 19,310 accounts belonged to SC borrowers with Rs 3976.84 crore sanctioned.
5. To 1,08,250 women entrepreneurs who held accounts, Rs. 24809.89 crore has been sanctioned.

About the ‘Stand Up India Scheme’:

• Launched in 2016.
• It seeks to promote entrepreneurship at the grass-root level of economic empowerment and job creation.
• Aim: To leverage the institutional credit structure to reach out to the underserved sector of people such as SCs, STs and Women Entrepreneurs.
• The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres (SUCC).
• Loans under the scheme are available for only Greenfield projects.

The objective of the scheme is:

To facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs 10 lakh and Rs 1 crore to at least one SC or ST borrower and one woman borrower per bank branch for setting up green field enterprises in manufacturing, service or trading sector.

Eligibility:

• SC/ST and/or women entrepreneurs; above 18 years of age.
• Loans under the scheme are available for only Greenfield projects.
• BoBorrower should not be in default to any bank or financial institution.
• In case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.

Insta Curious:

Do you know about Startup India Seed Fund Scheme? Reference

InstaLinks:

Prelims Link:

1. Key features of the scheme.
2. Eligibility.
3. Benefits.

Mains Link:

Discuss the significance of the scheme.

Sources: the Hindu