Standup India Scheme UPSC
What is Standup India Scheme? The Government of India has launched Standup India Scheme in 2016 to support young generation SC/ST & Women entrepreneurs. The objective of Standup India Scheme is to facilitate bank loans for at least one Scheduled Tribe (ST), Scheduled Caste (SC) and Women entrepreneurs per bank branch to set up greenfield projects . Even non-individuals can take advantage of this scheme but ensure at least 51% of shareholding of the firm should be owned by SC/ST or women entrepreneurs. Businesses involved in manufacturing & services sectors are eligible. Standup India Scheme Key Features Bank Loan ranging from 10lacs to 1cr for both new & existing enterprises. SIDBI small industries development bank of India provides refinance window with the initial amount of 1Cr. Debit card can be obtained through this credit scheme for withdrawing loan amounts. Applicants can access an online web portal for supp...