SME Times News Bureau | 20 Jul, 2021
The Stand Up
India Scheme was launched by the Prime Minister on 05th April, 2016
and has been extended up to the year 2025, said Minister of State for
Social Justice and Empowerment Sushri
Pratima Bhoumik in a written reply in Lok Sabha on Tuesday.
The objective of the Stand Up India Scheme is to facilitate
loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and
Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST)
borrower and one woman borrower per bank branch for setting up a green field
enterprise in manufacturing, services or trading sector.
As on 28.06.2021, a total of 1,16,266 loans amounting to Rs.
26204.49 crore have been extended under the Scheme since inception.
Pursuant to an announcement made by the Finance Minister in
the Budget Speech for F.Y.2021-22, the margin money requirement for loans under
the Scheme has been reduced from 'upto 25%' to `upto 15%' and activities allied
to agriculture have been included in the Scheme. Apart from this, no other
change is contemplated in the scheme.
Government does not allocate funds for loans under the Stand
Up India Scheme. Loans under the Scheme are extended by SCBs as per commercial
parameters, Board approved policies of respective banks and extant RBI
An amount of Rs. 500 crore each was however released by
Government in FY 2016-17 and FY 2017-18 and Rs 100 crore in FY 2020-21 towards
the corpus of Credit Guarantee Fund for Stand Up India (CGFSI).
The Government has taken various steps towards effective
implementation of the Scheme, these, inter alia, include provision for
submission for online applications by potential borrowers through
www.standupmitra.in portal, hand-holding support, intensive publicity campaign,
simplified loan application form, Credit Guarantee Scheme, convergence with
State and Central government Schemes wherever feasible, reduction in margin
money and inclusion of activities allied to agriculture etc.