Under Stand Up India scheme, three categories of borrowers are covered:
• Borrowers from Scheduled Class
• Borrowers from Scheduled Tribe
• Women Borrowers
If such borrower starts a business, loan up to 1 Crore can be granted under Stand Up India scheme in which No Collateral is Required because the government is directly giving guarantee to the Bank on behalf of the client.
Upto 6 months of starting the business can be covered in this scheme. And both Term Loan and OD Limit is provided in Stand Up India.