IAS Gyan

Daily News Analysis

Stand Up India Scheme

11th August, 2021 Economy

Context:

  • more than 1.17 lakh loans amounting to more than Rs. 26,391 crore have been sanctioned to SC/ST and woman borrowers under the Stand Up India Scheme (SUPI).

About the Scheme:

  • The Stand up India scheme aims at promoting entrepreneurship among women and scheduled castes and tribes.
  • The scheme is anchored by Department of Financial Services (DFS), Ministry of Finance, Government of India.
  • 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.
  • This enterprise may be in manufacturing, services or the trading sector.
  • In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.

Monitoring of Scheme:

  • Scheme is monitored and its performance is reviewed periodically at various levels such as District Level Consultative Committee (DLCC), State Level Implementation Committee (SLIC), State Level Bankers’ Committee (SLBC), through video conference with banks, etc.

Impact of the Scheme:

  • Scheme has helped nurture entrepreneurship amongst marginalised sections of the population such as Scheduled Castes (SCs), Scheduled Tribes (STs) and women facing significant hurdles due to lack of advice/mentorship as well as inadequate and delayed credit for setting up greenfield enterprises.