Updated By: LatestGKGS Desk
This scheme has no any relevance with Start-up India scheme. Stand-up India is focusing on providing bank finance assistance to the greenfield enterprises (newly incorporated entities). The Stand Up India scheme is anchored by Department of Financial Services (DFS) to encourage greenfield enterprises by SC/ST and women entrepreneurs.
The Stand Up India scheme provides for refinancing window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs 10,000 crore.
Eligibility criteria for consideration in this scheme :
Under Stand-Up India, every branch of a nationalized bank has to grant loan between Rs. 10 lakhs to Rs. 100 lakhs to at least one such beneficiary.
Stand-Up India Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise.
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