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Six Years Of Stand Up India Scheme

Six Years Of Stand Up India Scheme:

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

  • Under this scheme over 1.33 lakh new job-creators and entrepreneurs have been facilitated.
  • Over 1 lakh women entrepreneurs have benefited under this scheme in the last six years.
  • 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.
  • 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.
  • To 1,08,250 women entrepreneurs who held accounts, Rs. 24809.89 crore has been sanctioned.

‘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.
  • Obective 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.