About the Scheme
- The Stand-Up India Scheme aims to facilitate bank loans between 10 lakh and 100 lakh to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise.
- This enterprise may be in manufacturing, services or the trading sector.
- In case of non-individual enterprises, at least 51 per cent of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.
- SC/ST and/or woman entrepreneurs, above 18 years of age.
- Loans under the scheme are available for only green field projects. Green field signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.
- In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
- Borrowers should not be in default to any bank/financial institution.
Why in News?
- Government has said that more than 81 percent accounts under the Stand Up India Scheme belong to women entrepreneurs.