Stand Up India Scheme Apply Online & Registration Form & Check Amount, Last Date | Stand Up India Scheme Check Features & Benefits | Stand Up India Scheme Check Bank List & Borrower Types | Stand Up India Scheme Check Eligibility & All Details |
The Prime Minister of India Shri. Narendra Modi Ji has launched the Stand Up India Scheme so that the applicants belonging to the SC, ST and one woman will be able to start up their own enterprise in the greenfield after getting the loan amount awarded to them. This will empower the SC & ST communities to strive forward in their career. One can apply online for this scheme before the last date.
Today through this article we will provide you with all types of information about Stand Up India Scheme 2023 like Purpose, Eligibility Criteria, Benefits, Features, Important Documents, etc. Apart from this, we will share with you the process of applying online under this scheme. To get complete information about this scheme, read this article till the end.
Stand Up India Scheme
The Central Government has launched the Stand Up India Scheme so that the government will be able to provide financial assistance to the marginalized sections of society who wish to establish their own ventures. The initiative offers various benefits such as loans, training, and consultancy services to individuals. This aims to promote entrepreneurship and create employment opportunities in India.
For promoting the entrepreneurial ecosystem so that the emergence of new enterprises will take place Stand Up India Scheme has been launched so that ST, SC, and one woman borrower will be able to get loans in order to build and establish their own business venture. With the help of this scheme, the new start-ups will get invested with the right and appropriate money. The applicants will be advised to apply online before the last date.
Highlights Of Stand Up India Scheme 2023
The highlights of this scheme are as follows:-
| Name Of The Scheme | Stand Up India Scheme |
| Launched By | PM of India Shri. Narendra Modi Ji |
| Delegated Ministry | Ministry of Electronics and Information Technology |
| Allotted Portal | Standupmitra Portal |
| Objective | To provide loan amounts to the new entrepreneurs to start their own businesses |
| Benefit | New entreprises will get established |
| Applicable to | Citizens of India |
| Beneficiaries | SC, ST and Women |
| Form of Benefit | Facilitation of Loan Amount |
| Amount of Loan | Rs. 15 Lakhs to Rs. 1 Crore |
| Host Site | NIC (National Information Centre) |
| Mode of Application | Online |
| Last Date To Apply Online | Will be updated soon |
| National Helpline Toll Free No | 1800-180-1111 |
| Email ID | [email protected] |
| Official Website | www.standupmitra.in |
Objectives Of Stand Up India Scheme
The major objective of launching the Stand Up India Scheme is to encourage the SC, ST, and Women communities to undertake their careers in entrepreneurial activities so that employment or job opportunities will get generated and the unemployment rates will get reduced. this will encourage entrepreneurship, job creation, and economic development in rural and urban areas.
Another objective of launching the Stand Up India Scheme is to provide financial help and support in the form of loan amounts so that the business ventures of the new entrepreneurs may get started and they will not need to face any kind of financial instability which is becoming a kind of hindrance that can be used for investing in their business purpose. This will promote sustainability among entrepreneurs.
Stand Up India Scheme Statistics
The statistics of this scheme are as follows:-
| Total Applications | 210605 |
| Sanctioned Applications | 189777 |
| Handbooking Agencies | 24613 |
| HHA Requests | 3366 |
| Lenders Onboarded | 83 |
| Branches Connected | 137882 |
Eligible Beneficiaries
The below-mentioned beneficiaries will be given an online registration:-
- SC Candidate
- ST Candidate
- Woman Candidate
Age Limit
The age limit will also be taken into consideration at the time of shortlisting the names of eligible beneficiaries who will be able to get an online registration for this scheme in order to avail of the benefits of this loan amount after getting selection. The applicant will need to make sure that his or her age limit must be above the age of 18 years.
Types Of Borrowers
There are 2 types of borrowers are as follows:-
- Ready Borrower
- Trainee Borrower
Loan Amount
The amount of loan that will be lent to the borrowers is as follows:-
| Minimum Loan Amount | Rs. 10,00,000/- |
| Maximum Loan Amount | Rs. 1 Crore or Above |
Stand Up India Scheme Achievements
The Stand-Up India Scheme has granted a total of Rs.40,710 crore to 180,636 accounts over the course of 7 years. This financing opportunity has provided countless individuals with the necessary support to start and grow their businesses, pushing the Indian economy forward. Through the scheme’s efforts, entrepreneurs have been able to access the capital needed to make their dreams a reality.
Stand UP Mitra Scheme Ecosystem
The following are some of the key components of the Stand UP Mitra Scheme ecosystem:
- Funding:- Loan amounts will be provided to the applicants at the subsidized rates.
- Mentoring:- Mentorship support will be provided to the aspiring entrepreneurs, helping them develop their business plans, identify potential markets for their products or services, and develop marketing strategies.
- Training:- Training assistance will be provided to the aspiring entrepreneurs, teaching them key skills such as financial management, marketing, and leadership.
- Networking:- This will also provide networking opportunities for entrepreneurs, allowing them to connect with potential customers, investors, and other business owners.
Stand Up India Scheme Last Date
It is obvious that the students will be able to get an online registration after applying online under this scholarship. The last date for online form submission has not yet been released by the selection body. Whenever it will get released, we will update you through this article till then you can wait for a moment.
Interest Rate Applicable
The Stand UP Mitra Scheme aims to provide easy access to credit at affordable interest rates but it doesn’t mean if the government is providing loans to borrow among the eligible beneficiaries then they will not charge any interest rate. The current interest rate for loans under this scheme is 7.95%, one of the lowest rates offered for small business loans in India.
Repayment Of Loan Amount
Repayment under the Stand UP Mitra Scheme is structured to provide ease and flexibility to the borrower so that the borrower will be able to easily repay the amount within the fixed duration. Individuals can choose to repay the loan within a tenure of up to 7 years. This allows entrepreneurs to chalk out sustainable repayment plans that match their revenue streams.
No Collateral Security
In some cases it is seen that when the applicant borrows a loan from any authorized unit he or she is liable to provide collateral security but in the case of the Stand UP Mitra Scheme, it has been designed to provide collateral-free loans. This means that entrepreneurs can avail of loans without putting up any collateral. This removes a significant barrier to accessing credit, especially for those who may not have adequate security to offer.
Margin Money
The Stand UP Mitra Scheme provides a working capital margin money of up to 25% of the loan amount sanctioned. This is provided to help entrepreneurs meet their initial expenses and cashflow requirements that are often critical to the success of their venture which will result in the successful formation of profits generated out of the sold products and services adding up value to the GDP of India.
Similar Schemes
Some of the similar schemes like this scheme are as follows:-
- Make in India
- Industrial Corridor
- Dedicated Freight Corridor
- Sagarmala
- Bharatmala
- UDAN-RCS
- Digital India
- BharatNet
- UMANG
- MUDRA Yojana
- Start-up India
- Pradhan Mantri Ujjwala Yojana
- Skill India
Stand Up India Scheme Empanelled Banks
The list of empanelled banks under this scheme are as follows:-
- Axis Bank
- Indian Bank
- Bank Of Baroda Indian
- Union Bank Of India
- Kashmir Bank Limited
- State Bank Of India
- Bank Of India
- Jammu Canara Bank
- IDBI Bank
- Bank Of Maharashtra
- UCO Bank
- Punjab & Sind Bank
- ICICI Bank
- PNB Bank
- Central Bank Of India
- Overseas Bank
Responsibilities of Stakeholders
The list of responsibilities of stakeholders are as follows:-
| Stakeholder | Responsibilities |
| Borrowers | Under this scheme, timely payments are mandatory for borrowers, including apprentices who will receive support throughout the process. Accessing the portal or bank branch requires answering specific questions and submitting all necessary documents. It is also necessary to share personal experience and participate in quarterly events centered around best practices. Setting up and efficiently running an enterprise is crucial to success under this scheme. Failure to comply with any of these requirements may result in consequences for the borrower. |
| Bank Branches | Efficient monitoring of performance is crucial for the smooth implementation of the scheme. To facilitate transparency, any grievances should be addressed at the bank level within 15 days. In addition, potential borrowers must be properly assisted in accessing the portal while all applications received, whether online or in person, must be processed. Timely loan delivery should be ensured, with rejected applications accompanied by the reason for such a decision. Overall, borrowers should be apprised of the situation and given all relevant information. |
| DLCC | At the district level, all complaints will be promptly resolved, ensuring satisfaction among all parties. In addition, a public utility service will be established to assist potential borrowers. Any work-related issues will be addressed and resolved effectively to ensure a smooth working environment. Progress will be regularly reviewed to ensure targets are being met and adjustments can be made where necessary. |
| LDM | To ensure the successful implementation of the scheme, it is essential to monitor its progress and organize timely meetings of the district level committee. Participation in events organized by NABARD with all stakeholders is also crucial for effective collaboration. Providing hand-holding support to borrowers and complying with relevant authorities are integral components of the process. Lastly, ensuring constant communication with bankers is critical to facilitating seamless execution. |
| Nabard | Regular events will be organized to share experiences among stakeholders, with a minimum frequency of once a quarter. The role also involves supporting the SLB and DLCC in their review and monitoring responsibilities, liaising with the bank for potential follow-up action, arranging handholding support and providing training to other stakeholders. Coordination with the LDM will also be a key aspect of this position. |
| SIDBI | As a member of NABARD’s programs, the individual is responsible for coordinating with the LDM and establishing communication with the bank for potential cases. Furthermore, they are accountable for arranging handholding support, managing and preserving the web portal effectively. It is their obligation to aid SLBC and DLCC in the monitoring and evaluation process, which contributes significantly to the success of the programs. |
Benefits Of Stand Up India Scheme
The benefits of this scheme are as follows:-
- This will grow the enterprises that are going to be built newer.
- The applicants will be able to start up their own businesses.
- This will generate employment opportunities.
- Till then there are around 180,636 applicants who have been able to avail the loan facilities.
- This will promote sustainability among entrepreneurs.
- With the help of this scheme, the government will be able to reduce the unemployment rates.
Features Of Stand Up India Scheme
The features of this scheme are as follows:-
- The Pradhan Mantri Shri. Narendra Modi Ji has launched the Stand Up India Scheme.
- This scheme will be applicable to all over India.
- Loan amount of Rs. 15 Lakhs to Rs. 1 Crore can be borrowed by the applicants.
- There are various banks that have been empanelled for this scheme which will provide loans to the borrowers.
- One can apply online before the last date.
- For getting more information, one can visit the official website.
Stand Up India Scheme Eligibility Criteria
The applicants will need to follow the below-mentioned points to apply online:-
- The applicant must be an Indian citizen.
- He or she must be above 18 years of age.
- The beneficiary must be SC, ST and woman candidates.
- 51% shareholding and controlling stake should be held by SC, ST or women entrepreneurs in case of individual enterprise.
- He or she must be starting a business in the greenfield project.
Important Documents
Some of the important documents required to apply online under this scheme are as:-
- Aadhar Card
- Caste certificate
- Application Loan Form
- Permanent Residence Certificate
- Age Certificate
- Latest Passport Size Photograph
- Bank Account Details
- Mobile Number
- E mail ID
Process To Apply Online Under Stand Up India Scheme
The applicants will need to follow the below-mentioned points to apply online:-
- The applicant will need first to visit the Official Website.
- A homepage will get displayed.
- Scroll down the page.
- Look under the section You May Access To Loans.
- Click on the link to Apply Here.
- A new page will get displayed where you will need to enter your Name, Mobile no, and Email ID.
- Click on the Generate OTP button.
- The application form will get displayed on your screen where you will need to fill the asked details.
- Now attach the relevant documents.
- Then click on the Submit button.
- In this way, you will be able to get an online registration.
To Do Login
The applicants will need to follow the below-mentioned points to do login:-
- Visit the official website.
- Scroll down the page.
- Look under the section You May Access To Loans.
- Click on the link to Apply Here.
- Click on the Login link displayed at the top right hand side of the screen.
- The Login form will get displayed where you will need to enter the login details.
- Now click on the Login button.
Tracking Application Status
The applicants will need to follow the below-mentioned points to track application status under Stand Up India Scheme:-
- Visit the official website.
- Scroll down the page.
- Look under the section You May Access To Loans.
- Click on the link to Apply Here.
- Click on the Login link displayed at the top right hand side of the screen.
- The Login form will get displayed where you will need to enter the login details.
- After entering details, click on the Login button.
- Now click on the link to Application Status.
- A new page will get displayed where you will need to enter your “Reference Number”.
- Then click on the Submit button.
- The relevant details will get displayed on your screen.
Viewing Help Center Details
The applicants will need to follow the below-mentioned points to view details of help center:-
- Visit the official website.
- Click on the link to Help Centers.
- A new page will appear displaying relevant information in the tabular form.
- Go through the details.
Viewing LDM Details
The applicants will need to follow the below-mentioned points to view details of LDM:-
- Visit the official website.
- Now you will get land on the homepage.
- Click on the LDMs Link.
- A new page will appear displaying relevant information in the tabular form.
- Go through the details.
Viewing Connect Centers Details
The applicants will need to follow the below-mentioned points to view details of connect centers:-
- Visit the official website.
- Now you will get land on the homepage.
- Click on the link to Connect Centers.
- A new page will appear displaying relevant information in the tabular form.
- Go through the details.
Getting Contact Details
The applicants will need to follow the below-mentioned points to get contact details:-
- The applicant will need first to visit the official website.
- Scroll down the page until you will reach the bottom side of the screen.
- Now you will need to click on the Contact Us link.
- The contact details will get displayed on the screen.
Contact Information
In case you are having any doubts or queries regarding the Stand Up India Scheme, then you may contact this mentioned-below National helpline toll free no and email ID:-
- National Helpline Toll Free No:- 1800-180-1111
- Email ID:- [email protected]