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Promoting entrepreneurship through Stand-Up India Scheme in A&N Islands

Port Blair ,

      The Stand-Up India scheme aims at promoting entrepreneurship among Women and Scheduled Castes and Scheduled Tribes. The scheme is being implemented 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.
     SC/ST or woman entrepreneurs, above 18 years of age, can avail loans under the scheme only for greenfield project. Here, greenfield signifies first time venture of the beneficiary in manufacturing or services or trading sector. In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held either by SC/ST or women entrepreneur and borrower should not be in default to any bank/financial institution.
     As per the data received from Lead Bank Port Blair, in A&N Islands, altogether 202 beneficiaries have availed loan under the Stand-Up India Scheme and an amount of Rs. 42.01 crores have been disbursed to the applicants for setting up their own ventures so far.
     Composite loan (inclusive of term loan and working capital) between 10 lakh and upto 100 lakh is provided for setting up a new enterprise in manufacturing, trading or services sector by SC/ST/Women entrepreneur. The loan is repayable in 7 years with a maximum moratorium period of 18 months. The scheme, which covers all branches of Scheduled Commercial Banks is accessible either directly at the branch or through Stand-Up India portal www.standupmitra.in or through the Lead District Manager (LDM).