Finance Local Business Wireless Phone & Accessories Best Credit Card Financial Advisor cryptocurrency Cryptocurrency Trading

Standup India Scheme UPSC

homeloanfinanceseva

496
views

Standup India Scheme aims to promote SC/ST & Women entrepreneurs by providing financial support along with network opportunities. Check your eligibility!

Standup India Scheme UPSC

What is Standup India Scheme?

The Government of India has launched Standup India Scheme in 2016 to support young generation SC/ST & Women entrepreneurs.

The objective of Standup India Scheme is to facilitate bank loans for at least one Scheduled Tribe (ST), Scheduled Caste (SC) and Women entrepreneurs per bank branch to set up greenfield projects. Even non-individuals can take advantage of this scheme but ensure at least 51% of shareholding of the firm should be owned by SC/ST or women entrepreneurs. Businesses involved in manufacturing & services sectors are eligible.

Standup India Scheme Key Features

Bank Loan ranging from 10lacs to 1cr for both new & existing enterprises.

SIDBI small industries development bank of India provides refinance window with the initial amount of 1Cr.
Debit card can be obtained through this credit scheme for withdrawing loan amounts.
Applicants can access an online web portal for support services.
Bank maintains borrower’s credit history to avoid that money being used for any personal purposes.

Standup India Scheme Eligibility Criteria

It has a few criteria that need to be checked before loan application, please have a look at the following:

Applicant age should be above 18 years
Private limited companies/partnership firms & LLP are eligible
For non-individual 51% of shareholding must be held by SC/ST or women entrepreneurs.

Only greenfield projects are funded
Business turnover should not exceed 25 Cr
An applicant shall not default by any bank or financial institution.

Documents Required for Standup India Scheme

There are certain documents required as enlisted below:-

1. Proof of Identity (Any one of the following)

Aadhar Card
Passport
Voter ID Card

PAN Card
Driving License

2. Proof of Residence (Any one of the following)

Electricity Bills
Water Bills

Ration Card
Lease/Rent/Property own agreement

3. Certified financial statement of last 3 year

4. Company incorporation certificate

5. Business address proof

6. Latest Bank Statement or Passbook

7. MOA & AOA of company

8. Assets & liability statement of promoter

9. SC/ST or women entrepreneurs belonging document

10. Audited financial sheet, certificate of practice, Sales Tax Certificate, etc.

How to apply for Standup India Scheme Online?

Applicant can easily apply for standup India scheme online through SIDBI standup India portal either you can visit the branch directly to procure scheme benefits as under listed step by step:-

Step 1:- Firstly, click on register button, wherein applicant must answer few short questions.

Step 2:- After answering questions, click on submit button & wait for the review.

Step 3:- Considering the response, the applicant would be classified as a trainee borrower or ready borrower.

Step 4:- Once the classification takes place, he/she would be shared feedback against their eligibility along with login credentials are shared.

Step 5:- Through the credentials, one can able to log in to the dashboard.

Frequently Asked Questions

Which enterprises are eligible to get Standup India Scheme?

Under this scheme only greenfield projects are funded, the enterprises must be involved in manufacturing & services sector.

What is Stand up India Scheme UPSC?

Standup India Scheme UPSC come under IAS Exam syllabus where bank facilitates loan to SC/ST & women entrepreneurs.

How to apply for Stand-up India Scheme?

Visit official website of Standup India, register yourself by providing personal information- you have to answer some questions according to your response. Feedback would be shared.

Which ministry initiated Standup India Scheme?

Standup Scheme has been initiated by (Ministry of Finance) department of financial services.

What is the difference between trainee borrower & ready borrower?

Generally, a trainee borrower reflects that applicant requires handholding, therefore registration links redirect to LDM concerned district & other relevant office of SIDBI while on the other hand ready borrowers mean applicant is fully ready to start the process at their preferred banks.