Stand Up India Scheme UPSC Notes for Exam | Stand Up India launch Date
PM Modi Launched the Stand Up India Scheme on 5 April 2016 as part of the Government Efforts to Support Entrepreneurship among women and SC & ST Communities. The stand up india scheme aims at Promoting Entrepreneurship among women and Scheduled Castes and Tribes. The Scheme is Proposed by Department of Financial Services ( DFS ) Ministry of Finance, Government of India.
Objective of the Scheme
- The Objective of the Stand up india Scheme is to Facilitate Bank Loans between 10 Lakh and 1 Crore to atleast one Scheduled Caste ( SC ) or Scheduled Tribe ( ST ) Borrower and atleast one woman Borrower Per Bank branch For setting up a Greenfield Enterprise.
- This Enterprise may be in Manufacturing services, Agri allied services activities or the Trading Sector.
- In case of Non Individual Enterprises at atleast 51% of the Shareholding and Controlling stake should be Held by Either an SC/ST or Women Entrepreneur.
Eligibility For the Stand up India Loan scheme
- SC/ST and Women Entrepreneurs above 18 Years of Age
- Loans under the Scheme is available for only Green Field Project. Greenfield Signifies, in this Context the first time venture of the Beneficiary in the Manufacturing, Services, Agri allied activities or the Trading Sector
- Borrower Should not be in defaulter to any bank / Financial Institution.
Nature of Loan
Composite Loan ( Inclusive of term loan and Working Capital ) between 10 Lakh upto 100 Lakh
Purpose of Loan
For Setting up a new Enterprise in Manufacturing , Services, agri allied activities or the Trading Sector by SC/ST/Woman Entrepreneur.
The Loan is Repayable in 7 Years with a Maximum Moratorium Period of 18 Months.
The Scheme Envisages 15% Margin Money Which can be Provided in Convergence with Eligible Central Government Schemes
To Further Facilitate Credit Flow under the Scheme of standup India For SC ST and Women, The Finance minister proposed to reduce the Margin Money Requirement from 25% to 15% and to Also Include loans for activities allied to Agriculture.
Stand up India Loan Application Checklist
- Proof of Identity : Voter’s ID card / Passport / Driving Licence / Pan Card / Signature identification from present bankers of proprietor, partner of director ( if a company )
- Proof of Residence : Recent Telephone Bills, Electricity bill, Property tax Receipt / Passport / Voter’s ID card of Proprietor, partner of director ( if a company )
- Proof of Business Address
- Applicant should not be defaulter in any bank or Financial Institution
- Memorandum and articles of association of the company/ Partnership Deed of Partners etc
- Assets and liabilities statement of promoters and guarantors along with latest income tax return
- Rent Agreement and clearance from pollution control board if applicable
- SSI / MSME Registration if applicable
- Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan
- Photocopies of lease deeds / title deeds of all the properties being offered as primary and collateral securities.
- Documents to Establish whether the applicant belongs to SC / ST category, wherever applicable
- Certificate of incorporation from ROC to Establish whether majority stake holding in the company is in the hands of a person who belongs to SC/ST/ Woman Category.
Stand Up India Portal Login and Apply Link
You can Directly Visit the Stand up India Official website and can apply for the Loan , the other option is by visiting a nearest Bank branch or you can apply through your lead district manager.
- First you have to Visit this Website – Click Here and then you Scroll down and Click on Apply Here
- After you have to choose a Category like New Entrepreneur / Existing Entrepreneur / Self Employed Professional
- Then you have to Fill your name, E-mail address and Mobile number and Generate OTP based Registration.
These Stand Up India Scheme UPSC Notes are Points wise and Highlight the important sections of stand up india loan scheme.