The scheme, launched Tuesday (5th April, 2016) aims to support entrepreneurship among women and SC & ST (Scheduled Castes and Scheduled Tribes) communities, the by providing loans between Rs. 10-100 lakhs. The scheme includes a composite loan for setting up any new enterprise.
The initiative is launched as part of the Indian government’s continuous efforts to support entrepreneurship among women and SC & ST communities, and transforming lives of Dalits, tribals, etc. The Stand up India scheme sets a target of creating 2.5 lakh such entrepreneurs across the country.
The entrepreneurship initiative was launched in Noida, UP. At a function in Noida in Uttar Pradesh that also marked the birth anniversary of the Indian Dalit leader and former Deputy Prime Minister Babu Jagjivan Ram,
As part of the launch event, the Indian PM also distributed 5,100 e-rickshaws under the Mudra Yojna Scheme.
SIDBI will engage with the Dalit Indian Chamber of Commerce and Industry and various other institutions to take the scheme forward. The offices of SIDBI and National Bank for Agriculture and Rural Development will be designated 'Stand Up Connect Centres'.