The Stand-Up India policy is a Government of India initiative launched in 2015 to promote entrepreneurship among Scheduled Castes (SCs), Scheduled Tribes (STs), and women. The scheme aims to promote entrepreneurship and economic empowerment among these groups, often underserved by the formal credit system. This scheme was launched on April 5, 2016, and has been extended until 2025.
The Stand-Up India policy is based on recognizing the challenges faced by SC/ST and women entrepreneurs in setting up enterprises, obtaining loans, and accessing other support needed to succeed in business. The scheme therefore endeavors to create an ecosystem that facilitates and continues to provide a supportive environment for doing business.
Stand-Up India encourages the establishment of greenfield enterprises, which are entirely new ventures rather than expansions of existing ones. This approach aims to bring about economic growth by creating fresh opportunities for employment and contributing to overall development. One of the key features of Stand-Up India is the provision of loans to individuals belonging to SC, ST, or women entrepreneurs to start or expand their businesses.
These loans typically range from Rs. 10 lakh to Rs. 1 crore, making it easier for aspiring entrepreneurs to secure the necessary capital. The loans are offered through various financial institutions, including scheduled commercial banks, regional rural banks, and small finance banks.
The implementation of the Stand-Up India Policy involves various stakeholders, including banks, state and central governments, and entrepreneurship development organizations. Banks are responsible for disbursing the loans, while the government provides support in terms of subsidies, market linkages, and technical assistance. Entrepreneurship development organizations provide guidance and support to aspiring entrepreneurs.
Stand-Up India loans are available for a tenure of up to 7 years, including a moratorium period of up to 18 months. The interest rate on these loans is determined by the bank and is linked to the base rate. The margin money requirement for Stand-Up India loans is 15%. However, borrowers can avail of subsidies from various government schemes to meet the margin money requirement.
Borrowers can apply for the Stand-Up India loan directly at their bank branch or through the Small Industries Development Bank of India (SIDBI) portal. The SIDBI portal provides borrowers with a single-window platform to apply for loans from multiple banks.
The scheme also provides a Rupay debit card to the borrower for convenience and ease of transactions. The card also enables the borrower to withdraw cash from ATMs and make online payments. Stand-Up India aims to create at least 2.5 lakh entrepreneurs from the SC, ST, and women categories by 2025, and generate employment and income opportunities for them and their communities.
Stand-Up India is a scheme that aims to empower the SC, ST, and women entrepreneurs of the country and enable them to stand on their own feet. The scheme provides them with financial support, hand-holding support, and market linkages to set up their enterprises and contribute to the economic growth of the nation. The scheme has helped to create jobs and boost economic growth in rural areas.
As we all know, delving into the intricacies of the Stand-UP India Policy elucidates a commitment to entrepreneurship, bolstered by accessible services through CSC registration. Entrepreneurs are encouraged to apply for CSC, leveraging the platform for streamlined services. The integration of CSC Seva underscores the government’s dedication to fostering a conducive ecosystem for business growth. As Stand-UP India propels economic empowerment, the collaboration with CSC exemplifies a forward-thinking approach, ensuring that aspiring entrepreneurs have easy access to the resources and support needed for their success.