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The Stand-Up India scheme was launched in the year 2015 by the Prime Minister. The main aim behind this scheme was to encourage banks to give more loans to women, Scheduled Caste (SC), and Scheduled Tribe (ST) entrepreneurs. The reason why these communities have been targeted in this scheme is that these sections of the society are under-represented in the business community and find it hardest to get business loans.
Apart from empowering these communities, the scheme also has two other advantages. First, by helping set up more businesses, the scheme also leads to the creation of more jobs. And secondly, since the loans are given for businesses in the trading, service, and manufacturing sector, it also encourages the “Make In India” idea.