Stand Up India Scheme: Many people have this desire to leave their job or start their own business. Funds are the most important thing to start a business. Many people are not able to start business due to lack of money. If you are also planning to start a business, then this news may be useful for you.
Today we are giving you information about a scheme in which you can take a loan ranging from Rs 10 lakh to Rs 1 crore. It is also known as Stand Up India Scheme. Till now more than 2 lakh people have taken advantage of it. The most special thing about this scheme is that you do not need to pledge anything to take a loan.
What is Stand Up India Scheme?
Stand Up India Scheme was launched on 5 April 2016 by the Finance Ministry under the Azadi Ka Amrit Mahotsav. In this scheme, loans are provided to Scheduled Castes (SC), Scheduled Tribes (ST) and women for self-employment.
The objective of this scheme is to encourage SC/ST category and women to do their own business. The government believes that through this scheme new entrepreneurs will emerge from small towns also. Who will arrange employment for themselves as well as for other people.
What is the loan eligibility?
To take loan under Stand Up India Scheme, you must be a man or woman belonging to Scheduled Caste or Scheduled Tribe. Also, your age should be 18 years or older. The loan applicant should not have any outstanding loan from any bank or NBFC. In this scheme you also get a moratorium period of 18 months. The loan tenure is 7 years.
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