Business owners belonging to SC/ST, along with women entrepreneurs, are two target groups who are most hard hit by financial burden.
To facilitate an equal involvement of women entrepreneurs and SC/ST businesses owners, the Stand Up India Scheme was put in place.
Features of Stand Up India Scheme
The scheme provides cost coverage of 85% of business costs for budding entrepreneurs belonging to these segments of society at the lowest possible rate of interest.
Under this scheme, at least one woman and one SC/ST borrower shall be provided loans at every bank branch.
Limitations of Stand Up India Scheme
This loan is only for greenfield enterprises.
This only includes businesses involved in manufacturing, services, agri-allied activities, or the trading sector.
Let us move towards the Startup India Seed Fund Scheme (SISFS)!
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