The correct answer is 2016. Explanation & Key Takeaways: • The Stand Up India Scheme was officially launched by Prime Minister Narendra Modi on 5th April 2016. The launch event took place in Noida, Uttar Pradesh. • The primary objective of this scheme is to promote entrepreneurship at the grassroots level, specifically focusing on economic empowerment and job creation among Scheduled Castes (SC), Scheduled Tribes (ST), and Women entrepreneurs. • The scheme facilitates bank loans between Rs. 10 lakh and Rs. 1 crore to at least one SC or ST borrower and at least one woman borrower per bank branch of all Scheduled Commercial Banks. • It is specifically designed for setting up Greenfield enterprises, which refers to the first-time venture of the beneficiary in the manufacturing, services, agri-allied activities, or trading sector. • The Department of Financial Services (DFS), under the Ministry of Finance, is the nodal agency governing the implementation of this scheme across the country. Related Concepts: • Eligibility and Ownership: To benefit from the scheme, the entrepreneur must be above 18 years of age. In the case of non-individual enterprises, at least 51% of the shareholding and controlling stake must be held by either an SC/ST or Woman entrepreneur. • Loan Repayment and Moratorium: The loan provided under the scheme is repayable in 7 years, and the maximum permissible moratorium period is 18 months. • Margin Money: Initially, the scheme required the borrower to provide 25% margin money. However, to make the scheme more accessible, the Government of India later reduced the margin money requirement to 15% of the project cost. • Support Ecosystem: The scheme is supported by the Small Industries Development Bank of India (SIDBI) and the National Bank for Agriculture and Rural Development (NABARD). The Stand Up Mitra portal was created to provide a digital interface for applicants to access loans and handholding support. • Extension of the Scheme: Recognizing its impact on financial inclusion, the Union Budget has extended the Stand Up India Scheme up to the year 2025 to continue fostering an entrepreneurial culture among underserved sections of society. Important Notes: • Context of Other Years: • In 2014, the government launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) on 28th August, which is the world's largest financial inclusion initiative. • In 2015, several major schemes were introduced, including the Pradhan Mantri Mudra Yojana (PMMY) on 8th April and the Digital India campaign on 1st July. • In 2019, the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) was launched to provide income support to all landholding farmers' families in India. • Credit Guarantee: To encourage banks to lend, the government created the Credit Guarantee Fund for Stand Up India (CGFSI), which provides a guarantee for the loans granted under the scheme, thereby reducing the risk factor for financial institutions. • Impact Data: Since its inception in 2016, the scheme has sanctioned over Rs. 40,000 crore to more than 1.8 lakh accounts, significantly boosting women empowerment and financial independence in rural and urban India.