| With reference to 'Stand Up India Scheme', which of the following statements is/are correct? |
| 1. Its purpose is to promote entrepreneurship among 8C/ST and women entrepreneurs. |
| 2. It provides for refinance through SIDBI. Select the correct answer using the codes given below |
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither1nor 2
Correct Answer: C
Solution :
Exp. [c] Prime Minister Narendra Modi has launched the Stand-up India scheme aimed at providing credit to Scheduled Castes (SO Scheduled Tribes (ST), and women borrowers in the non-farm sector. The scheme is intended to promote entrepreneurship among SC/ST and women and further give a push to government's financial inclusion programme. The broad features of the scheme are as follows ? Composite loan between 7 10 lakh rupees and upto71crore will be provided to SC/ST and women and also inclusive of working capital component for setting up any new enterprise. ? Debit Card (Rupay) for withdrawal of working capital. Credit history of borrower to be developed of these under banked sections of society. ? Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of 710,000 crore. ? Creation of a corpus of 75,000crore for credit guarantee through National Credit Guarantee Trustee Company (NCGTC). ? Handholding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing, etc.
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