Sui Clinics
COWE is working with SIDBI to spread awareness about the Stand Up India scheme. It has conducted webinars and is in the process of setting up a facilitation call centre to help women entrepreneurs apply for the scheme
Stand up India Scheme’s goal is to nurture entrepreneurship among women, Scheduled Castes (SC) and Scheduled Tribes (ST) communities by assisting them in the beginning a greenfield business in trading, manufacturing, service sectors and Agri allied activities. The margin money requirement for loans under the scheme has been reduced from up to 25% to up to 15%.
Objective:
In the case of non-individual entrepreneurs, at least 51% of the shareholding and controlling stake should be held by either SC/ST or women entrepreneurs. The scheme is anchored by the Department of Financial Services (DFS), Ministry of Finance, Government of India with SIDBI being the administering agency. Under the scheme, at least one ST/SC borrower and at least one-woman borrower per Scheduled Commercial Bank branch receive bank loans ranging from Rs. 10 lakhs to Rs. 1 crore.
Scheme coverage:
The scheme covers all branches of scheduled commercial bank and can be accessed in three potential ways:
- Directly at the branch
- Through SIDBI’s interactive Stand-up India portal (www.standupmitra.in)
- Through Lead District Manager (LDM)
The interactive portal has 3 important features viz.
- Handholding support
- Loan from banks
- Guarantee support for collateral free loans
The scheme has been working round the clock, helping women across the country to reap the benefits of the available credit access.
Refer the video links given below to get a better understanding about the Stand Up India scheme from banker's point of view: