Stand Up India Scheme

The Cabinet has approved the “Stand Up India Scheme” to promote entrepreneurship among Scheduled Caste/Schedule Tribe and Women.

The schemes provides for composite loans by banks between ₹ 10 lakh and upto ₹ 100 lakh for setting up a new enterprise in the non-farm sector. These loans would be eligible for refinance and credit guarantee cover.

A credit guarantee fund of ₹ 5,000 crore for providing guarantee cover for loans under Stand Up India in next five years has been approved. Provision of initial capital of ₹ 500 crore to the corpus in FY 2016-17 has been made.

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha.