Stand Up India Loan Scheme 2024

Stand Up India Loan Scheme – In order to promote entrepreneurship among women in, SC, and ST sectors the Honorable Prime Minister of India Mr. Narendra Modi has launched the Stand Up India Loan Scheme. This scheme was launched on 15 August 2015 in order to make beneficiaries economically empowered. Other than that this scheme also helps in creating job opportunities. This scheme enables the beneficiary to participate in the economic growth of the nation. Nearly 2.5 lakh beneficiaries through 1.25 lakh banks will be benefited from this scheme. Through this article, we are going to provide you with complete details regarding this scheme its objective, benefits, features, eligibility criteria, required documents, apply online, log in, track application status, etc.

This scheme has been launched in order to facilitate SC/ST and women entrepreneurs in setting up enterprises, obtaining loans, and providing other support which is needed from time to time. Under this scheme, all the branches of scheduled commercial banks will be covered directly at the branch or through SIDBI stand-up India portal through the lead district manager.

The Government of India has launched a Stand Up India Loan Scheme. Under this scheme, bank loans are provided to scheduled castes, scheduled tribes, and women borrowers. These bank loans will range from Rs 10 lakh to Rs 1 crore. With the help of this scheme, at least one scheduled caste or scheduled tribe borrower and at least one woman borrower per bank branch will be provided a loan for setting up a Greenfield Enterprise. This enterprise can be a manufacturing, service, Agri allied activity, or trading sector. If the enterprise is nonindividual then at least 51% of the shareholding and controlling stake is required to be held by SC/ST or women entrepreneurs.

PM Mudra Loan

Stand Up India Loan Scheme Details

Name Of The Scheme	Stand Up India Loan Scheme
Launched By	Government Of India
Beneficiary	Citizens Of India
Objective	To Provide Financial Support For Setting Up Enterprise
Official Website	https://www.standupmitra.in/
Year	2024
Launched On	15th August 2015
Mode Of Application	Online

Objective Of Stand Up India Loan Scheme

The main objective of the Standup India loan scheme is to provide financial support for setting up Greenfield Enterprise. Through this scheme financial support from Rs, 10 lakh to Rs 1 crore is provided to SC, ST or women entrepreneurs. With the help of this scheme SC, ST, and women entrepreneurs will be facilitated in setting up enterprises, obtaining loans, and getting other support that is needed from time to time. Other than that through this scheme employment will be generated which will reduce the unemployment rate. Nearly 2.5 lakh beneficiaries will be benefited through 1.25 lakh banks under the stand-up India loan scheme.

SBI Stree Shakti Yojana

Stand Up India Loan Scheme Portal

In order to get the benefit of this scheme beneficiaries are required to register through the official portal
Through this portal, feedback information will be provided
This portal can be accessed at home, at the common service center, through a Bank branch and through LDM
If any bank branch internet access is restricted then the branch will guide the potential borrowers to an internet access point
This portal will host Information about various entities which are providing handholding support to the borrower which includes training, DPR preparation, margin money support, shed/workplace identification, raw material sourcing, bill discounting, e-Com registration, registration for taxation
Through the portal application forms can be obtained gathered and provided information

Types Of Borrowers Under Stand Up India Loan Scheme

Ready borrower- If the borrower does not require any handholding support then that borrower will be considered a ready borrower. This borrower can start the process of applying for a loan at the selected Bank. After the application, the borrower will get the application number, and the information about the borrower will be shared with the bank LDM and the relevant NABARD and SIDBI link office. After that loan application will be generated and tracked through the portal
Trainee borrower- If the borrower requires handholding support, that borrower will be considered a trainee borrower. NABARDand SIDBI will arrange for support for the trainee borrower through financial training, skilling, margin money mentoring, support utility, connection, etc. Other than that the LDM will also monitor the process of work with the local offices of SIDBI and NABARD in order to solve problems and ease bottlenecks. After adequately meeting the hand-holding requirements and attaining the satisfaction of LDM and the trainee borrower the loan application will be generated through the portal.

Stand Up India Loan Scheme Margin Money And Grievance Redressal

Under the scheme, 15% margin money will be envisaged
The borrower is required to invest at least 10% of the project cost as their own contribution
If the state scheme supports the borrower with 20% of the support cost as subsidies then the borrower is required to contribute at least 10% of the project cost
The district-level credit committee will be responsible for implementing this scheme
Various kinds of events will be organized at the district level which involve stakeholders of the scheme in order to guide potential entrepreneurs
This event will guide the entrepreneurs in making registrations
SIDBI will provide support for the organization of these events
The grievances of the borrower will also be addressed
The portal provides contact details of various officers who will attend to the grievances
Soon an online process for the submission of complaints and subsequent tracking through the portal will be developed
Other than that feedback on the disposal of complaints will be made available by the customers

Responsibilities Of Stakeholders Under Stand Up India Loan Scheme

Borrowers

Borrowers are required to make payments in due time
If the borrowers are categorised trainee borrower then they are required to go through the sequence of hand holding support as applicable
The borrowers are required to access the portal or visit the bank branch and answer some questions
Submit all the required documents
Attend all the quarterly events on experience sharing, best practices etc
Setup and run the enterprise efficiently

DESH Stack e Portal

Bank branches

Monitor the performance of scheme
Redress grievance at Bank level within 15 days
Help potential borrowers in accessing the portal
Process all the applications which are received online or in person
Process loan within the stipulated time frame
If the loan is rejected then the reason for rejection should be made available and known to the borrower

DLCC

Address all the grievance at district level
Resolve issues relating to public utility service and workspace for potential borrowers
Review progress from time to time

LDMs

Monitor the progress of the scheme
Participate in the events organised by NABARD with all the stakeholders
Conduct district level committee meetings periodically
Satisfy the borrowers requirement of hand holding to be maximum extent
Follow up with all the concerned officers
Provide information to the bankers of the potential borrowers

NABARD

Organised event as and when required (at least once in each quarter) among the stakeholder for experience sharing
Assist SLB and DLCC in reviews and monitoring
Coordinate with LDM
Liaise with bank to follow up on potential cases
Arrange handholding support
Provide training to other stakeholders

SIDBI

To participate in the events organised by NABARD
Assist SLBC and DLCC in review and monitoring
Coordinate with LDM
Liaise with bank in order to follow for potential cases
Arrange handholding support
Operate and maintain the web portal

Statistics

Total application	204796
Total amount	48057.36 crore
Sanctioned application	184267
Sanctioned amount	41478.77 crore
Hand holding agencies	24613
HHA request	3294
Lenders onboarded	82
Branches connected	137243

Benefits And Features Of Stand Up India Loan Scheme

The Government of India has launched stand up India loan scheme
Through this scheme bank loans are provided to scheduled caste, scheduled Tribes and women borrowers
These bank loans will range from Rs 10 lakh Rs 1 crore
With the help of this scheme at least 1 schedule caste or scheduled tribe borrower and at least one woman borrower per bank branch will be provided a loan for setting up a Greenfield Enterprise
This enterprise can be a manufacturing, service, agri allied activity or trading sector
If the enterprise is non individual then at least 51% of the share holding and controlling stake is required to be held by SC /ST or women entrepreneur
Under the scheme composite loan of 85% of the project cost inclusive of term loan and working capital will be provided
The rate of interest will be lowest applicable rate of bank for that category not to exceed (base rate (MCLR)+ 3% + tenor premium
Other than primary security the loan can be secured by collateral security or guarantee of credit guarantee fund scheme for stand up India loan as decided by the bank
This loan is to be repayable within a period of 7 years with the maximum moratorium period of 18 months

Eligibility Criteria Of Stand Up India Loan Scheme

Applicant must be permanent resident of India
The applicant must be SC/ST or women entrepreneur
Age of the applicant should be above 18 years
The borrower should not be a defaulter of any Bank or financial institution
In case of non individual enterprise 51% of the share holding and controlling stake should be held either by SC/ST or women entrepreneur
Under the scheme loans will be provided only for Greenfield project