PM has launched “Stand up India” initiative.
1. An initiative to promote entrepreneurship among women, SC, and ST communities: The PM Narendra Modi has launched “Stand Up India” Initiative to promote entrepreneurship for setting up greenfield projects. The enterprise may be manufacturing or service or trading firm. In case of its being nonindividual at least 51% stake holding shall be SC/ST or women with the minimum target of 1 such case from each bank branch .
2. A web Portal: The Prime minister has also launched the Web portal named as “Stand Up Mitra” to make the process easy and accessible for deserving citizens to avail and make use of the social scheme.
3. Easy Access to Loans: Under this scheme any SC/ST or women enterprise has 3 options for reaching out the bank .
· Directly at bank branch
· Stand up India Portal
· Lead District Manager
By contacting any of the above application may be submitted for availing the loan facility.
4. Loans from INR 10 Lacs to INR 100 Lacs: The amount of loan under “Stand up India” has been set as starting from INR 10 Lacs to INR 100 Lacs. The same can be taken for setting up the business which would, in turn, promote the entrepreneurship as well as give a boost to the economy.
5. Institutional credit structure: It is an initiative to bring minorities and women to connect themselves to institutional credit system and grow.
6. Stand up connect centers: Under the “Stand up India” initiative Stand up connect centers are also established to help the deserving people in many districts .
7. Vocational training centers: The government has also announced it will establish Vocational training centers for SC/ST and women to develop the skill set and enhance the chances of being employed and create more employment options.
8. Establishment of MSME Development Institutions ,Associations of Women Entrepreneurs and State SC/ST development and financial corporations industry associations.
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