Question

With reference to ‘Stand up India scheme’, which of the following statement is/are correct?
1. Its purpose is to promote entrepreneurship among SC/ST and ***** entrepreneurs.
2. It provides for refinance through SIDBI. Select the correct answer using the code given below.
(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer 1

(c) (i) Prime Minister launched the ‘Stand up India Scheme’ aimed at promoting entrepreneurship among Scheduled Castes/ Scheduled Tribes and *** by giving loans in the range of Rs.10 lakh to Rs.1 crore for setting up a new enterprise. There would be a Rs.10,000 crore refinance window through Small Industries Development Bank of India ( SIDBI) and the National Credit Guarantee Trustee Company Ltd (NCGTC) will create a corpus of Rs.5,000 crore.
(ii)** Both statements are correct as per : Press Information Bureau (PIB) Government of India Ministry of Finance/03-April-2016.