PM Narendra Modi launches Stand up India scheme for SC/ST, women

Prime Minister Narendra Modi has launched the Stand-up India scheme aimed at providing credit to Scheduled Caste (SC), Scheduled Tribe (ST), and women borrowers in the non-farm sector. The scheme is intended to promote entrepreneurship among SC/ST and women and further give a push to government’s financial inclusion programme.

Features of the scheme

1. Composite loan between 10 lakh rupees and up to 1 crore rupees will be provided to SC/ST and women and also inclusive of working capital component for setting up any new enterprise. 

2. Debit Card (RuPay) for withdrawal of working capital. Credit history of borrower to be developed of these under-banked sections of society. 

3. Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of 10,000 crore rupees. Creation of a corpus of 5,000 crore rupees for credit guarantee through National Credit Guarantee Trustee Company (NCGTC). 

4. Handholding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing etc. Web Portal for online registration and support services will be provided. 

5. Under the scheme, 1.25 lakh bank branches will provide loans up to 1 crore rupees to SC/ST and women entrepreneurs. Thus it will help in creating 2.5 lakh entrepreneurs throughout the country.