Stand UP India

  1. Objective : To facilitate loan, between 10 lakh to 1 crore, to atleast one SC or ST and atleast one woman, per bank branch for setting up a green field enterprise. The Beneficiary should not be less than 18 Years old. 2. The greenfield enterprise can be set up in manufacturing; services or in trading. 3. In case of non individual enterprise, at least 51% stakes should be held by either SC or ST or woman entrepreneur. 4. The scheme endeavours to create an ecosystem which facilitates and continues to provide a supportive environment for doing business. 5. The scheme covers all branches of scheduled commercial banks. 6. The borrower can access the loans through: a. At branch level or b. At SIDBI’s stand up India Portal. c. By Lead district manager (LDM) 7. About SIDBI’s-STAND up portal: a. It will provide information regarding process to access the loan facility by the borrower. b. The borrower once registered at the portal, will be contacted by the concern bank branch. c. An eligible borrower can portal can be accessed directly at home or at common service centres (CSCs) or through a bank branch or through a bank branch or through lead district manager. 8. The borrower will be asked few simple questions at an initial stage on the portal. a. Location of the borrowers b. Category SC/ST/Woman c. Nature of business planned d. Availability of place to operate the business e. Assistance needed for preparing a prject plan f. Requirement of skills/training (technical & financial) g. Details of present bank a/c h. Amount of own investment into the project i. Any previous experience in business
9. Based on these questions, the borrower will be classified as Ready borrower or Trainee borrower. a. A ready borrower will not require any handholding in the whole process. His/her, loan application will be generated and can be tracked on the portal b. For a trainee borrower, the portal will link the borrower’s profile with concerned lead district manager, and the relevant office at SIDBI/NABARD c. For the stand up scheme, 503 offices of NABARD, and 79 offices of SIDBI, have been designated as stand up india connect centre (SCC). d. A borrower can contact these SCC, at any point of time, even after the loan is sanctioned. e. Nature of loan- loan will be provided to meet the cost of plant, machinery as well as initial working capital. I. The loan will be covered 75% of the total cost of the project II. Rate of interest. III. Rate of Interest will not Exceed Marginal Cost of Fund Based Lending + 3%+ Tenor cost/premium.  MCLR Rate – Marginal Cost of Fund based lending Rate. – the lowest possible rate of Interest charged by a bank.  Tenor Cost/ Premium – This is the cost applied on time left for repayment of Loan. More time left for repayment of loan, more will be the tenor Cost. IV. No repayment of loan will be asked for the initial 18 months after the loan is disbursed. V. Total time of Repayment will be 7 years. VI. For working capital, a Rupay Card will be issued. Other Details.  The Scheme Was Launched on 125th Birth Anniversary of Dr. Ambedkar.  The Ministry Responsible for – Ministry of Finance.9. Based on these questions, the borrower will be classified as Ready borrower or Trainee borrower. a. A ready borrower will not require any handholding in the whole process. His/her, loan application will be generated and can be tracked on the portal b. For a trainee borrower, the portal will link the borrower’s profile with concerned lead district manager, and the relevant office at SIDBI/NABARD c. For the stand up scheme, 503 offices of NABARD, and 79 offices of SIDBI, have been designated as stand up india connect centre (SCC). d. A borrower can contact these SCC, at any point of time, even after the loan is sanctioned. e. Nature of loan- loan will be provided to meet the cost of plant, machinery as well as initial working capital. I. The loan will be covered 75% of the total cost of the project II. Rate of interest. III. Rate of Interest will not Exceed Marginal Cost of Fund Based Lending + 3%+ Tenor cost/premium.  MCLR Rate – Marginal Cost of Fund based lending Rate. – the lowest possible rate of Interest charged by a bank.  Tenor Cost/ Premium – This is the cost applied on time left for repayment of Loan. More time left for repayment of loan, more will be the tenor Cost. IV. No repayment of loan will be asked for the initial 18 months after the loan is disbursed. V. Total time of Repayment will be 7 years. VI. For working capital, a Rupay Card will be issued. Other Details.  The Scheme Was Launched on 125th Birth Anniversary of Dr. Ambedkar.  The Ministry Responsible for – Ministry of Finance.9. Based on these questions, the borrower will be classified as Ready borrower or Trainee borrower. a. A ready borrower will not require any handholding in the whole process. His/her, loan application will be generated and can be tracked on the portal b. For a trainee borrower, the portal will link the borrower’s profile with concerned lead district manager, and the relevant office at SIDBI/NABARD c. For the stand up scheme, 503 offices of NABARD, and 79 offices of SIDBI, have been designated as stand up india connect centre (SCC). d. A borrower can contact these SCC, at any point of time, even after the loan is sanctioned. e. Nature of loan- loan will be provided to meet the cost of plant, machinery as well as initial working capital. I. The loan will be covered 75% of the total cost of the project II. Rate of interest. III. Rate of Interest will not Exceed Marginal Cost of Fund Based Lending + 3%+ Tenor cost/premium.  MCLR Rate – Marginal Cost of Fund based lending Rate. – the lowest possible rate of Interest charged by a bank.  Tenor Cost/ Premium – This is the cost applied on time left for repayment of Loan. More time left for repayment of loan, more will be the tenor Cost. IV. No repayment of loan will be asked for the initial 18 months after the loan is disbursed. V. Total time of Repayment will be 7 years. VI. For working capital, a Rupay Card will be issued. Other Details.  The Scheme Was Launched on 125th Birth Anniversary of Dr. Ambedkar.  The Ministry Responsible for – Ministry of Finance.

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