Complete guide to Stand Up India scheme 2024. SC/ST and women entrepreneurs can get bank loans from ₹10 lakh to ₹1 crore for setting up greenfield enterprises. Learn eligibility, process, and benefits.
Stand Up India Scheme 2024: Empowering SC/ST and Women Entrepreneurs
Stand Up India, launched on April 5, 2016, is a flagship scheme by the Government of India that promotes entrepreneurship among Scheduled Caste (SC), Scheduled Tribe (ST), and women entrepreneurs. The scheme enables these communities to set up their own enterprises and become job creators instead of job seekers.
What is the Stand Up India Scheme?
Under the Stand Up India scheme, at least one SC or ST borrower and at least one woman borrower per bank branch must receive a loan between ₹10 lakh and ₹1 crore for setting up a new (greenfield) enterprise. This ensures that every bank branch in India is contributing to economic empowerment of these communities.
Key Features of Stand Up India
- Loan Amount: ₹10 lakh to ₹1 crore (composite loan)
- Coverage: Up to 75% of the total project cost
- Repayment Period: Up to 7 years with a moratorium period of up to 18 months
- Interest Rate: Base Rate + 3% + Tenor Premium (maximum)
- Coverage: Manufacturing, services, and trading sectors
- Collateral: Guarantee coverage provided under CGFSI (Credit Guarantee Fund for Stand Up India)
- Mudra Card: A working capital limit in form of overdraft is provided with a Rupay debit card
Who Can Apply for Stand Up India?
- SC (Scheduled Caste) entrepreneurs
- ST (Scheduled Tribe) entrepreneurs
- Women entrepreneurs (from any category or caste)
- Applicant must be at least 18 years old
- For non-individual enterprises, SC/ST/women must hold at least 51% stake
- The enterprise must be a greenfield project (first time business setup)
- Borrower should not be in default to any bank or NBFC
What is a Greenfield Enterprise?
A greenfield enterprise means a new business being set up for the first time. The term specifically refers to projects that start from scratch without any existing structure or prior operations. For Stand Up India, it means:
- You are starting a completely new business
- The business is in manufacturing, services, or trading sector
- You have not previously run this type of business
How to Apply for Stand Up India Loan
Method 1: Online via Standup India Portal
- Visit standupmitra.in
- Register as an applicant and create a profile
- Fill out the loan application with business details
- Submit documents electronically
- The portal will match you with the nearest eligible bank branch
Method 2: Directly at a Scheduled Commercial Bank Branch
- Visit any Scheduled Commercial Bank branch near you
- Ask for the Stand Up India loan application form
- Submit form with required documents
- Bank will process and sanction within 30 working days
Documents Required
- Aadhaar and PAN Card
- SC/ST certificate (from competent authority) or women applicant declaration
- Business registration documents
- Passport-size photographs
- Proof of business location (rent agreement or ownership deed)
- Detailed Project Report (DPR) with financial projections
- Bank statements of last 6 months
- Quotations for equipment, machinery, or other investments
Stand Up India vs Mudra Yojana: Key Differences
Many people confuse Stand Up India with Mudra Yojana. Here is a quick comparison:
- Target Audience: Stand Up targets SC/ST/Women specifically; Mudra is for all Indians
- Loan Amount: Stand Up: ₹10L - ₹1 crore; Mudra: up to ₹10 lakh
- Business Type: Stand Up: greenfield only; Mudra: new and existing
- Bank Coverage: Stand Up: mandatory at every branch; Mudra: through NBFCs, MFIs too
Success of Stand Up India Scheme
Since launch, Stand Up India has achieved remarkable milestones:
- Over 1.8 lakh loan accounts sanctioned
- More than ₹43,000 crore disbursed
- 70%+ beneficiaries are women entrepreneurs
- Available at all 1.5 lakh+ bank branches across India
Conclusion
Stand Up India is one of the most impactful schemes for social entrepreneurs and underserved communities. If you belong to the SC/ST community or are a woman entrepreneur with a vision of starting your own enterprise, this scheme provides you the financial support and institutional backing you need to make your business dream a reality.