Stand up India scheme Details 2023

Stand up India scheme Apply online:

Stand-up India scheme was launched by the Government of India to provide financial support to SC/ST category people. This scheme helps the entrepreneurs to economic empowerment and employment generation in the country. Under this scheme, at least one SC/ST applicant from each bank branch and one woman entrepreneur will be helped to provide loans between Rs 10 lakh and Rs 1 crore to enable them to set up their own business. The eligible borrowers can apply online under this Standup India loan scheme. Kindly read the full article to know more about this scheme.

About Standup India scheme:

Stand-up India was launched by Prime Minister of India Narendra Modi on 15 August 2015 on Independence Day to promote economic empowerment and entrepreneurship. The basic objective of this scheme is to provide easy subsidized loans for new startups, so that the entrepreneurs can grow their business. Stand-up India scheme will be operated by all branches of listed commercial banks in India. The scheme works to benefit a minimum of 2.5 lakh borrowers through 1.25 lakh bank branches located across the country.

Eligibility criteria for Standup yojna:

• SC / ST and / or women entrepreneurs above 18 years of age are only eligible for this scheme.

• Loan under the scheme is available only for green field project.

• In case of non-individual enterprises, 51% shareholding and controlling stake should be held by SC/ST and/or women entrepreneur.

• The borrower should not be in default with any bank / financial institution.

Documents required:

• Passport size photo

• Identify Proof

• Address proof

• Address proof of Business

• Memorandum of Association of the company.

• Rent agreement

• Balance sheet of last 3 years

• Assets and Liability Statement of the Promoter and Guarantors

How To register Stand Up India Yojna:

Step 1– To apply on this scheme First of all you need to go, on the official website of Stand-up India. Click the official link to directly visit the website https://www.standupmitra.in/Login/Register

Step 2– After visiting the website fill the registration form, where you need to put address, state, district, village, town, city etc.

Step 3– After that a drop down menu will open in front of you where you will get the option to select applicant’s scheme, nature of business, loan amount, and details of business activity, location for business etc.

Step 4– The last step is about the personal information of the applicant that is name, enterprise name, user name, mobile number, email etc.

Step 5– After giving all the information correctly, click on register button. After that the applicant will be able to apply for the Stand-up India scheme in the respective loan institution.

Bank’s who provides loan under Standup yojna:

Axis Bank, Bank of India, Bank of Baroda, Indian Overseas Bank, Jammu & Kashmir Bank Ltd, PNB Bank, Indian Bank, Central Bank of India, State Bank of India, ICICI Bank, Union Bank of India, IDBI Bank, UCO Bank, Bank of Maharashtra, Punjab and Sind Bank, Canara Bank.

Conclusion:

Stand Up India scheme has been extended till the year 2025. There is a web based interactive portal (www.standupmitra.in) available for the Citizens. This portal has been developed by SIDBI, under the guidance of Ministry of Finance, Government of India. With the help of this portal, the applicant can register his account as well as check or view his details.

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