The government of India releases various schemes from time to time to make India a developed country. The development of India directly connects with the residents of India so, the government launches schemes for residents of India. The Standup India Scheme is one such program that the government has launched to support or empower women in this country. The main aim of this scheme is to encourage female entrepreneurs. This scheme was launched by the Honorable Prime Minister of India Shri Narendra Modi. The PM wants to support women of Scheduled castes & Scheduled Tribes by launching Standup India Loan Scheme. So, in today’s article, we will briefly discuss the Standup India Scheme, what are its features & benefits, what is its objective, what are the eligibility criteria, the documents required & the procedure to register. READ THE FULL ARTICLE CAREFULLY! Leave your queries in the comment section below.
Table of Contents
About Standup India Scheme 2024
The Prime Minister of India, Shri Narendra Modi has launched the Standup India Scheme on August 15, 2015. This scheme is launched to empower women belonging to Scheduled castes & Scheduled Tribes. With the help of this scheme, the government wants women to be financially independent. If the lower caste women of India will get financial freedom then their children will also be powerful & help make India a self-reliant & developed country. Under this scheme, the government will provide loan amounts to 2.5 lakh beneficiaries of Rs.10 lakh to Rs.1 Crore. The business started by the female entrepreneurs may be manufacturing, service, trading sector, or agricultural related. If the business is not owned by a single person, an SC / ST Female entrepreneur must own at least 51% of the shares & control of the company.
This program has been established to support the female entrepreneur in becoming financially independent & providing additional support to them. Through this scheme, employment will also be generated in India, which help in lowering the unemployment rate.
Key highlights of the Standup India Loan Scheme
Scheme Name | Standup India Loan Scheme |
Introduced by | Indian government |
Launched by | Prime Minister Shri Narendra Modi |
Beneficiaries | Women of SC/ST category |
Objective | To make women financially independent. |
Registration mode | Online |
Official Website |
The objective of the Standup India Scheme 2024
Through this scheme, the government of India aimed to create an environment in India by helping SC/ST women to realize their full potential by introducing the Standup India Loan scheme. By taking loans, the women can start up their businesses & become financially independent. We know that it is not an easy process, but the government will also assist them in making them financially capable. the government will not only focuses on making them financially independent but help them to realize their full potential & skills.
Features & Benefits of the Standup India Scheme
- The Prime Minister of India, Shri Narendra Modi has launched this Standup India Loan Scheme.
- This scheme is launched to empower women belonging to Scheduled castes & Scheduled Tribes.
- Under this scheme, the government will provide loan amounts to 2.5 lakh beneficiaries of Rs.10 lakh to Rs.1 Crore.
- The Standup India scheme will not provide any subsidy.
- The loan offered through this scheme will only be used to start a new business.
- The payback loan period is 7 years and the maximum moratorium period is 18 months.
- The applicant will be given a total loan equal to 85% of the project’s cost, including a term loan and working capital.
- To take India on the path of development, the government has launched this scheme.
- The borrower is required to invest 10% of the project cost as his contribution.
Eligibility Criteria
- The candidate must be an Indian citizen.
- The candidate must be a permanent resident of India.
- The applicant must belong to SC/ST category.
- The applicant’s minimum age should be 18 years.
- In the event of the non – individual business, the applicant who has applied for the loan must be a 51% owner of the business.
- The applicant should not have a history of financial default with any bank.
- Loan will only be given to start a new business only.
Documents Required
The following documents are required for Standup India Loan Scheme 2023 –
- Aadhar card
- Pan Card
- Permanent residence Address
- Email id
- Age certificate
- Birth certificate
- Mobile number
- Community or Caste certificate
- Application loan form
- Passport size Photograph
- Computerized Signature
Procedure To Apply For The Loan
Eligible & interested candidates can apply for this loan by following the given below steps –
- Firstly, the candidate has to visit the official website of the Standup India loan scheme which is
- Then on the homepage, click on ‘click here for handholding support or apply for loan’.
- After clicking a new page will appear. Fill in the required details such as name, email id, and mobile number.
- After filling, click on generate ‘OTP’. An OTP will come on your mobile number. Fill in the OTP & click on the Register option.
- After that you have to click on the ‘Login’ Option through your login credentials.
- On the new page click on “Standup India Loan Scheme”. A new application page will open.
- Enter the required details on that form. And upload the required documents & computer-authorized signature.
- Now, apply.
- Your application process has been completed.
Details Required While Providing Loan
The following are the details required while applying for the loan –
- Class
- Nature Of Business
- Borrower’s location
- Availability of space to conduct business
- Assistance needed for the preparation of the project plan
- Skills & training required
- Bank account details
- own investment in the project
- Any previous experience in business
- Need help raising margin money
Procedure To Log in on The portal
- Firstly, the candidate has to visit the official website of the Standup Loan scheme.
- Then on the homepage, Click on the login option.
- After clicking on the login option – two options will appear on your screen 1. Applicant 2. Another user
- Select the desired option.
- Enter your username & password.
- Click on the login option & you are logged in to your registered account.
Procedure To Track Application Status
- Firstly, the candidate has to visit the official website of the Standup Loan scheme.
- Then on the homepage, Click on the Track application option.
- A new page will appear on the screen.
- Now, enter your mobile number, & click on the request OTP.
- Now you have received an OTP on your registered mobile number.
- Fill in the OTP, and enter your reference number.
- Finally, click on the Track application option. Now a proper record of your application procedure will appear on your screen.