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All about Stand Up India Scheme

All about Stand Up India Scheme

Hello friends,
LIC AAO Interviews & Syndicate bank Manipal PO Interviews are just around the corner. And questions from different fields would be asked; therefore it is essential to have sound knowledge about them. On Tuesday, a very important scheme was launched i.e. Stand up India which is very important considering the interview and upcoming exams.
So here we present an article on this, covering every essential aspect of the scheme.
Startup India – Standup India was first mentioned by PM Narendra Modi on August 15, 2015 while addressing the nation on Independence Day. However the Start Up India Scheme was already being launched in January, the Stand Up India scheme is launched on April 5, 2016.
It was launched by PM Narendra Modi along with the Web portal for the scheme at NOIDA, UP. The ceremony was attended by UP Governor, Union Finance Minister, Union Minister for Culture and Tourism and Union Minister of State for Finance.
The Scheme aims to promote entrepreneurship among Scheduled Caste/Schedule Tribe andWomen. And it is expected to benefit large number of SC/ST, women entrepreneurs. It is intended to facilitate at least two such projects per bank branch (Scheduled Commercial Bank).
The scheme proposes to leverage the institutional credit structure to reach out to these underserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and Women borrowers.
Features of the scheme:
I. It provides composite loan for setting up any new enterprise, between Rs. 10 lakh and upto Rs.100 lakh.
II. It provides RuPay Debit Card for withdrawal of working capital.
III. The scheme seeks to develop credit history of borrowers.
IV. The government will open a refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs.10, 000 crore.
V. The scheme will also facilitate the creation of a corpus of Rs. 5,000 crore for credit guarantee through National Credit Guarantee Trustee Company (NCGTC).
VI. It will also provide handholding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing etc.
VII. It is accompanied with the launch of a Web Portal for online registration and support services.
At the event, distribution of 5,100 e-rickshaws by Bharatiya Micro Credit under the Pradhan Mantri Mudra Yojana also took place.
  • Bhartiya Micro Credit (BMC) aims to spread awareness about financial inclusion and social security schemes and proposes to take the benefits to poor and destitute people in the country.
  • Credit for these facilities is being provided under Mudra Scheme.
Team GradeUp
All about Stand Up India Scheme Reviewed by sambasivan srinivasan on 4:30:00 PM Rating: 5

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